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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: John Curtis who wrote (14654)	9/18/1999 4:25:00 PM
From: Chisy	Read Replies (2) \| Respond to of 27311

In another site there was a long discussion re. shorting against the box. It was ended when somebody showed an article that it was against SEC rules now. Was that fact or fiction? Some of those people went as far as saying they short in other brokerage houses and in different named accounts. Again legal or illegal?

To: John Curtis who wrote (14654)	9/18/1999 10:59:00 PM
From: Tickertype	Read Replies (1) \| Respond to of 27311

John, I believe this was your post describing the shorting practices of MM's. Message 9881663 - T -

To: John Curtis who wrote (14654)	9/18/1999 11:53:00 PM
From: Harold Hertzfeld	Read Replies (3) \| Respond to of 27311

John and Rich, thanks for your comments on MMs shorting of Valence stock. John, is it not true that marketmakers are more interested in making money on the spread between the bid and ask price than on "maintaining an orderly market"? Placing a market order for most OTC stocks is asking to have your head handed to you. The stock loan department of Prudential Securities has told me several times recently that the request for Valence stock to short is "no good". There is no stock around to borrow and that they know of no institutions that presently have a position in the stock. So much for Prudential securities. I, too, would like to know if investors can borrow Valence stock from their securities firm(s)s to short or hedge their Valence position. I think that it would be worthwhile for all the readers to ask their own personal financial advisors next week to telephone their stock loan departments and ask for permission to short some amount of Valence stock. Also ask how much stock is available to short should you like to take a major short position. Don't just take a broker's immediate response of "sure you can short it". Ask him to call his stock loan department for verification. Then respond to John C's post with "Yes I can short" or No, I cannot short" Valence stock. And name the brokerage firm . Might be most interesting. Harold By the way is market makers one word or two words?