Dow Jones 10003.29 -42.84 9:34 am PST, July 22, 2004  NASDAQ 1869.40 -4.97 For info, visit access.smallcapnetwork.com S & P 500 1090.76 -3.92 To be removed, please click here Russell 2000 542.52 -6.05 VOLUME 04: ISSUE 56  Feature: Does Bill Gates read SmallCap? Biocurex battles back. In our last piece, we stated that Microsoft (NASDAQ: MSFT) was likely close to spending its $60 billion cash mountain for the benefit of shareholders. Within 90 minutes of that article's posting, Tuesday, at our website   (access.smallcapnetwork.com ), Mister Softee followed our lead and did just that; doubling its annual dividend, doling out a $3 a share special payment (scheduled for December 2nd) as well as announcing a massive stock buyback program. Nice to see that Gates is endorsing the tech industry for at least the next four years by buying back $30 billion worth of MSFT stock. The shares shot to nearly $30 on the news, but stopped short as volumes swelled. Currently the shares are idling around $29, likely waiting for MSFT's numbers due after the bell, Thursday. For those who took advantage of our trading alert in March at $24.90, a sale today would book a 16.5 percent profit. Not a bad return given the timeframe and the current ugliness of the markets. As we noted, we like Microsoft. We'd also like to see it crack $30 to establish a new up leg. My concern is that the distribution announcement simply proved that the $30 resistance level will be tough to crack and, unless the quarterly numbers are spectacular, that effect may already be priced in. A cynic may think that the timing of Tuesday's announcement was to counter some weakness in Thursday's quarterly report. Analyst consensus is for quarterly earnings of 29 cents and revenues of $9 billion. In this market, good news tends to be ignored and bad news is punished. Given how rough a time MSFT has getting past that $30 ceiling, I suspect that unless Gates et al blows away those Street estimates, the shares will sell off somewhat. The good news is that the shares likely won't sell off that much but if they do, investors should take advantage and buy some, or more. For those who are sitting on decent profits, it would also be wise to sell a bit prior to the numbers release.  In any case, love it or hate it, one should always have some exposure to MSFT as part of a core portfolio.     BioCurex speaks. At the other end of the size spectrum is biotech BioCurex (BOCX.PK), a stock that has proven never to be dull. The press release (below) brings shareholders up to date on management's feelings regarding the challenges over the past few months as well as its progress in rescuing the shares from the Pink Sheets and restoring them to the NASDAQ OTC Bulletin Board,(OTCBB) from which they were dropped in April. Last time we visited BOCX, the shares were being sold off and likely shorted which dropped the price to nearly 50 cents. Since then, the shares have perked up--likely spanking those shorts--and have smartly returned to the $1 a share range. Now that filings are up to date and the plan to return to the OTCBB is underway, the next step will be for the company to return to its regularly scheduled program of continuing to validate its technologies--specifically its tissue (Histo-Recaf?) and blood (Serum-Recaf?) tests for cancer detection. Let's be clear, again. BioCurex is not for everyone. And neither, necessarily, is the entire microcap biotech market. The Amex Biotech violated our 485 support level noted in our last piece and fell to 460-ish Wednesday. I suspect the index and the sector will grind around here for a while which connotes both volatility and, we believe, opportunity. Only those who can stand the heat should venture into the kitchen. For our part, a small exposure to BOCX likely makes sense for those risk-oriented investors who live for the kind of high risk/high reward profile this formative stage company represents. Preliminary results from the company's  cancer detection tests leads us to believe that for those who subscribe to the potential of BioCurex's cutting edge technology, a position is warranted. But be under no illusion: history has shown that smallcap stocks at this stage of their development can be both incredible winners and vicious heartbreakers. But if you've held BioCurex shares over the past few months you already know that. Now that the corporate challenges appear to have dissipated, we patiently wait for deal news in the form of partners and licensees. The company states that it is working hard to this end; aggressively exploiting interest shown by companies both big and small. As we have stated before, even a couple of small initial deals will go a long way to push the company forward and further validate its technology. Once that happens, and the shares regain their OTCBB listing, we believe the stock will reward those risk-oriented investors who see the potential now.     PRESS RELEASE BioCurex On Its Way Back To The OTC:BB Thursday July 22, 9:00 am ET RICHMOND, British Columbia, July 22, 2004 (PRIMEZONE) -- BioCurex, Inc. (Other OTC:BOCX.PK - News) provides a Company update on its effort to reestablish trading on the NASD OTC:BB: Three months ago BioCurex underwent an investigation by the SEC. Following a sudden increase in the price of our stock, the Commission decided it was in the best interests of our investors to halt trading of BOCX shares for 10 days based on ``questions regarding the accuracy of assertions by BioCurex and others, in press releases and e-mails to investors concerning, among other things, (1) a study confirming the effectiveness of its primary product and (2) approval of its main product by the Food and Drug Administration''. The company immediately clarified any semantics in reference to the FDA classification of its Histo-RECAF technology and stood firmly by its reported results. Further, in an unprecedented move, a complete and detailed description of the raw scientific data including the statistical analysis of our lung cancer study was posted on the company web site for everyone to view. Those same results, along with other studies, were subsequently presented in two congresses that gather international specialists in the field of cancer markers. The presentations elicited a significant amount of interest by very knowledgeable persons as outlined in a previous news release. It should be emphasized that we would not have gone to those congresses if we did not have complete confidence in our results, nor would those results have passed the scrutiny of the international scientific community in the field, if the results had not been well substantiated and valid -- which they were. We have fully cooperated with the SEC, while standing by our claims, which are valid. The trading suspension caused the company's shares to be removed from the OTCBB. Since April 23rd 2004, our shares have traded in the ``Pink Sheets'', an unorganized market where actual Bid and Offer at any given time are not always available to all of our investors. These events compounded with a delay in our financial reporting. Our Auditors insisted on a restatement of previous years' financial reports, although they had previously audited them to their satisfaction. That resulted in a considerable delay in filing our most recent 10K and 10Q, without which, we could not qualify for reinstatement in the NASD OTC:BB. In the face of all these adversities, we feel that the company and its stock have performed well and Management wants to thank its staff and the professionals that helped us through these turbulent waters. We thank our shareholders for their faith in our ability to surmount this very difficult situation and for their faith in our technologies. Our goal is to re-establish trading on the OTC:BB and we are now happy to announce that the company is again current in its audited statements and that a brokerage firm has already filed a Form 211c with the NASD, a necessary step to bring us back to the OTCBB. We anticipate the process to be completed in the upcoming weeks. The outlook for BioCurex Inc. is exciting. As we move our business plan forward, we believe we will gain significant exposure for our technologies and awareness of our company in the industry. We look forward to a successful year. To read more about the Company, please visit the News section in our web site (http://www.biocurex.com). About BioCurex: BioCurex, Inc. is a biotechnology company that is developing products based on patented/proprietary technology in the areas of cancer diagnosis. The technology identifies a cancer marker known as RECAFtm, which is found on malignant cells from a variety of cancer types but is absent in most normal or benign cells. To find out more about BioCurex (Other OTC:BOCX.PK - News), visit our website at http://www.biocurex.com. Note: The Company has not authorized the release of this information in any form that contravenes the Communication Act and will not be responsible for unsolicited massive distribution of this material by e-mail or facsimile by unauthorized parties. Statements in this press release, which are not historical facts, are ``forward-looking statements'' within the meaning given to that term in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.   Contact: BioCurex, Inc. Ricardo Moro (604) 207-9150 Source: BioCurex, Inc.   We Value Your Feedback Got comments, questions or suggestions? 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