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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Dennis V. who wrote (18186)2/10/2000 1:46:00 PM
From: drbailey  Read Replies (1) of 27311
 
Dennis,

Actually it is Bailey. Look forward to meeting you in Henderson. I am pleased with today's action. With no "blockbuster" announcement this morning I was expecting the shorts to be all over us. Not only are they not very verbal (only a couple of posts by the wet blankets on SI and Yahoo), they don't seem to be doing much to the price. We are in a pretty tight trading range with the longs holding tight. We have learned patience and it is now paying off. So much positive to consider and the only negative is we aren't getting our PO announcements as quickly as we want. Not to criticize the company. They have a lot more to do than watch the stock price all day. What's a few days to them when they know what is going to happen ultimately?

The short term players will play the announcements and lack thereof and the price will bounce around in its trading range. Then those who know something is about to happen will start buying and the race will be on again. We are confident it will happen. We just have no control when it will happen and trying to get a feel for what is going on with only our cyberconnection as a sensor is like holding hands with our sweetheart while wearing ski gloves. I'm not a very patient person but holding a seven bagger sure makes it easier.
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