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

To: Rich Wolf who wrote (9219)	3/13/1999 12:12:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

<<Yes, but why borrow additional shares from a broker, and pay a fee for having borrowed them (for what, 3 months going on 4, now?), when they could have just pledged their own shares?>> Rich, first of all, shorting means selling borrowed shares. I don't understand how "pledging" shares they do own would constitute a shorting transaction. Secondly, remember Castle Creek earns interest on the preferred shares. So why would they want to pledge shares they can earn interest on for quite some time?