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

To: Dennis V. who wrote (19881)	5/25/2000 9:15:00 PM
From: Zeev Hed	Respond to of 27311

Dennis, I am on "record" <G> stating that we are entering (or should I say, have entered) a period like the 1966 to 1982 stretch, where the Dow was essentially bound between 500 and 1000. This was a long period in which many stock were in multi year bear trends, despite the fact that the average did (three times if memory serves) mount massive rallies, or bull markets. Just as one example, that long term bear ended in mid August after seven trading days in which the NYSE registered not a single new high. Now that was a bottom and a peak in extremely negative sentiments. Good growing companies went for a PE (trailing) under 10. Duriong that period, however, you could still make a fortune in the like of INTC (in 1976 I started using their 4048 chip, that is how I found out about them), but even that stellar performer would drop more than 50% in each of the down legs of that multiyear stagnation (each time from a high about 50% to 100% of the previous peak). If VLNC delivers on its promise, it could still flourish, but we should expect more periods like the last few months where the stock drops almost 70% from its yearly high. All the above just MHO. Zeev