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

To: I. N. Vester who wrote (19042)	4/7/2000 9:01:00 AM
From: hhertzfeldjr	Read Replies (2) \| Respond to of 27311

Hi Everyone, I find this strategy discussion interesting. My portfolio took the same trip to Hell that yours did. I was there watching every downtick. The VLNC market was totally illiquid--to sell the stock as it was crashing "at market" would give you a much lower price than you were looking at on the screen.....and to buy a stock on the way back up you would find that it would be at a much higher price than the last print on the screen. (I tried to buy some in the 14's and ended up paying almost 16 for it.) I was scared. I felt sick. I certainly acted the opposite way to my feelings because I gambled the market would recover this time by the end of the day which it did. I was very fortunate. I was on 40 % margin. I have made the decision to get completely off of margin and raise 20 % cash for another buying opportunity when the market returns to its previous levels. I will put in some limit orders for Valance down to 13 and expect to be filled. I will expect a lower price for the stock after purchase and no immediate rally to bail me out. And I would assume that my broker will not let me stay below 25% for more than a day or so. So, I am assuming the worst market..I hope. After all that is what a Bear Market is all about and the market has not sent me an "all well" card as yet. If it means that I do not have enough Valence going up from here so be it. I probably will have more than 99.999 percent of the world population and that is enough. I think that each of us should add up the total market value of our Valance stock at 9 and 13. Then ask yourself if it would make sense to buy more Valance with your cash and using margin at that time at the lower price. I would expect that it would be more emotionally difficult to do it then....and hopefully, more rewarding. If Valance goes to $40 or $100 I will make some serious money from here. If it goes to 10 and stays there I will not be wiped out. I can live with that. This message will probably print the bottom price for this stock (at $20 ) I hope so. Thanks to all for returning to the thread. Harold