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

To: golden_tee who wrote (24806)	8/24/2001 7:37:56 PM
From: MGV	Respond to of 27311

"Today's CC will be very bullish in my opinion. I'm buying more today on any weakness." Could you possibly be more wrong yoest? As noted many times before, you somehow manage to lower the bar of credibility and intelligence on yourself just about every time you write. I'll try again to introduce useful concepts to you. "Positive correlation" - when the market goes down, stocks go down - they move in the same direction - in your convoluted thinking they "trend" "together." Have you ever heard of "Beta?" Have you ever seen a negative Beta? The reason why is that individual stocks tend to move in the direction of the market. Listen carefully now: That characteristic is not, repeat, not distinctive of VLNC. What matters is the relative movement. When the market has gone down, VLNC has gone down more. When a stock underperforms the averages and its peers as VLNC has, it tends to punctuate its poor performance with days such as today. Take a look yoest: The market was up! VLNC was down! It was down heavily. It was down nearly 16% yoest. That is why the chart showed VLNC to be down about 75% over the past year with the Nasdaq down around 50%. There are multiple reasons in the case of VLNC for that under-performance. They include failed execution, operational disappointment, poor financial fundamentals, and declining management credibility. Think yoest, don't talk, don't write. Think!

To: golden_tee who wrote (24806)	8/24/2001 8:50:06 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

Robert, the only time VLNC "trended" with the market was when it (and the market) went to its ridiculous bubble spike last year, and its subsequent deflation. In the long run, the ONLY thing that matters is earnings. Since VLNC has never had any, it quite logically is trading at less than half its 1992 IPO price. During the same period of time, an investment in the typical NASDAQ stock has gained 200%. Therefore, since VLNC became public, it has lagged the NASDAQ by 400%. finance.yahoo.com It should be obvious to even the most limited brain that: (1) VLNC has underperformed the market over the long run and the short run, and (2) the reason for the underperformance is the fact that it has never earned a single dime.