According to the Crying Songfacts, Orbison wrote this song as the result of running into a girl he'd split up with, with whom he was still in love. However he refused to say how much she meant to him, and afterwards he regretted his stubbornness.
I was all right for a while, I could smile for a while
But I saw you last night, you held my hand so tight
As you stopped to say \"Hello\"
Aw you wished me well, you couldn't tell