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

To: Larry Brubaker who wrote (25551)	6/27/2002 10:49:26 AM
From: The Vet	Respond to of 27311

Larry, I wonder if a bit of a campaign, emails, letters etc, to regulators might fall on more sympathetic ears regarding the short interest reporting. The present situation is obviously a hang over from a long time ago. The shorts exploit it, and if nobody complains then nothing will happen. The silver lining with the VLNC short position is that unless VLNC goes under completely they will have to cover eventually, and that's a fair lump of stock not available for more short attacks...

To: Larry Brubaker who wrote (25551)	6/28/2002 12:53:15 PM
From: Rich Wolf	Respond to of 27311

Short interest: Larry, you had it right the first time, in that the short interest reported for June does NOT include the effect of the heavy volume day. Short interest was reported for trades through June 11th, that settled on June 14th. The rule is: "Firms are required to report their short positions as of settlement on the 15th of each month, or the preceding business day if the 15th is not a business day. The reports must be filed by the second business day after the reporting settlement date. The Product Deployment and Support area compiles the short interest data and provides it for publication on the 8th business day after the reporting settlement date." nasdaqtrader.com Since the 15th was a Saturday, Friday the 14th was the settlement date, for trades through June 11th. If the 15th follows a weekend, sometimes you see the 5 day gap that you recalled (which occurred in May, e.g.). So you were correct initially when noting that the effect of the dump of Valence out of the index, and the heavy volume day, is NOT included in the short interest numbers reported for June. We will have to wait another month.