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

To: kolo55 who wrote (15030)	10/5/1999 1:25:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Stock weakened much more just BEFORE September sale. Check your data again. Date of prospectus was 9/23. Stock on that day was about $5.125, down from $6.25 two weeks earlier. And this after having rebounded from the low $4's in the two weeks prior to the two week selloff immediately preceeding the September financing. Date of previous prospectus was 8/31. Stock on that day was about $4.40. Down from $6+ at the beginning of the month. Date of previous prospectus was 7/30. Stock on that day was about $6, down from 7+ at the beginning of the month. The stock has been very weak immediately prior to each of the last 3 financings. Not proof of a leaky floorless. But certainly the possibility should not be dismissed that Castle Creek is not the only deep pocket who is a big seller, IMO. By the way, now that your prediction of a 500,000 share increase in the short position has been proven wrong, I assume you now are subscribing to the Rich Wolf theory that the selling we have been seeing is not shorting, but the unwinding of a boxed short position? Otherwise, you would have to subscribe to my theory that Castle Creek actually covered in the low $4s in order to begin the cycle again.