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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Pallisard who wrote (11390)5/25/1999 4:17:00 PM
From: William Epstein  Read Replies (7) of 27311
 
To all;

I just saw an appearance by John Bollinger (Bollinger bands) on CNBC. He pointed out that gold is falling and has been falling about 6 months. He made the point that gold prices precede bond yields by 6-9mos. with the strongest correlation at 180 days. The correlation is .65 OR 65%, very, very high. Gold prices are forecasting higher bond yields several months out. This is great for market future conditions and great for VLNC. If financing costs come down it will directly affect VLNC's cost of money and it's ability to market it's product internationally. I am not worried about lines of credit for this company. Assuming the P.O. is legitimate and there is more to come the company can finance against its incoming business. Mr. Wexler, that is called factoring. It can cover its's costs, if need be, using a bank to put up the operating capital.

Assuming this is no scam and the technology is what they say it is VLNC should do very well by next year particularly, in Asia. The whole market should do well too. The current correction will be a buying opportunity particularly, on the NASDAQ. Nasdaq down 72 today. However, VLNC is holding up well. I'm impressed. If market conditions were better the it would have been worth another point to VLNC.
PHOTOMAN
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