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

To: William Epstein who wrote (11637)	6/1/1999 10:50:00 AM
From: Robert Cohen	Read Replies (3) \| Respond to of 27311

I am well aware of the function of market makers, and yes I have known and traded against my share. It makes absolutely no sense for any MM OR investment banker to maintain a short proprietary position in a stock like Valence for over several days or weeks. Yes they sell short in order to make a market or in some instances to cap a breakout to the upside or downside but it is still my contention that they would not willingly maintain a long term proprietary short position. Robert