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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Pallisard who wrote (19022)4/5/2000 5:35:00 PM
From: Dennis V.  Read Replies (2) of 27311
 
I might agree with Zeev except that I don't believe Valence's downward move was truly in concert with the many other high fliers which have declined recently. It gave the appearance of being so because of what, IMO, was a coordinated attack made possible by the settlement shares. Nevertheless, there is a temporary change in what the pundits call "sentiment". This has been related mostly to the declining prospects of the internet stocks which ballooned to incredible valuations. The money leaving the internets has to go somewhere and I don't think this type of investor will be happy sitting in bonds or shave cream for very long. The telecommunications sector is a growth sector which is not quite like the internet. It is very probable that many of these stocks can rebound in accordance with earnings prospects, Valence included as a peripheral player which is rapidly developing legs.
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