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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: Rich Wolf who wrote (24321)5/30/2001 2:50:23 AM
From: P. Ramamoorthy  Read Replies (1) of 27311
 
Rich,
Re."...Recession is wreaking havoc, no light in the tunnel yet. Market head fake..."

I was hoping to see the market to have some confidence after those rate cuts. Although some CEO's feel that we have passed the bottom, they are still cautious about spending and capital investments. Greenspan now probably understands that his rate cuts are like pushing a string. The banks are probably ready to lend. But there are not many takers. Everyone seems to be cautious these days. The pricing power may be eroding. The inflation is in check, according to Greenspan. Productivity gains have gone the full course. Job cuts, pay cuts seem to be the only way for some companies to shore up earnings that the street expects to see. In short, yes, it looks dismal, at this point in time. Ram
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