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

To: kolo55 who wrote (15823)	11/9/1999 9:55:00 PM
From: Larry Brubaker	Respond to of 27311

<<I still believe that CC has to convert...>> Paul, once again, the simple fact that Castle Creek passed on the opportunity to convert at $4.61 is strong evidence that they think they will get a better price. If they thought they would only marginally improve their price, why take the risk? They must be expect a significantly better price than $4.60. I'm not betting against them.

To: kolo55 who wrote (15823)	11/9/1999 9:56:00 PM
From: MGV	Respond to of 27311

"I still believe that CC has to convert..." You still don't get it. Here is another hint. (This is not about a "game" between shorts and longs. You are freezing cold sport.) It is all about flapping red flags.

To: kolo55 who wrote (15823)	11/9/1999 10:42:00 PM
From: I. N. Vester	Read Replies (1) \| Respond to of 27311

Paul, I agree with you that CC has to convert at least some shares soon. While it's impossible to know exact numbers we know enough from level II to know that they have expended most of their ammunition. That having been said, if I were CC, I think I would be counting on Lev to be very tight lipped on the cc as he has been most of the time so far. His refusal to make any statements which cannot be independently confirmed will almost certainly leave us without any strong confirmation that orders are happening. Again, I if were CC, I'm pretty sure that I would at least try to take advantage of that situation. I'd use up any remaining ammunition and hope that I can find many longs who give up and throw in the towel. I very much doubt that any longs will fall for it, but I do think CC will probably give it their best shot and try to create some kind of panic after the call.