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

To: Larry Brubaker who wrote (15034)	10/5/1999 2:32:00 AM
From: Rich Wolf	Respond to of 27311

Sorry, Larry, have to disagree. The short interest report is only a single data point. And as it happens, landed this month just after a period where the price rose considerably above the low. And it doesn't account for 'boxed' positions. Don't bet that the shorts covered in the 4s. Since INCA sold 80k shares on one day, in a futile attempt to hold at 4 3/4, how the heck did they cover at a better price? Apart from cc's converted shares, they didn't. They didn't. And I didn't say that CC alone was selling. But they'd have been fools not to have prepared long shares to sell. Wouldn't it have been bad form to run out of short shares, or find yourself facing longs who carefully placed themselves on downticks that you couldn't short to? We saw the latter happening. Plus, having the 'boxed' shares is a hedge in case the 'unexpected' PO arrives. You're arguing too strenuously, Larry. We've seen the tape action, level 2 and some level 3, and what we post comes from that. Not from the wishful thinking that your theory apparently must, since it flies in the face of all we've seen.