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VOLUME
05: ISSUE 16
Feature:
Biocurex Rising. Company Updates.
As we noted on the SCBLOG
over the weekend, there appears to be something going on with the shares
of Biocurex (BOCX.PK).
Friday, the shares closed at $1.15, after closing at 76 cents, Thursday.
Friday's volume was north of 800,000 shares. On Monday the shares eased
slightly and closed at 97 cents on trading of over 400,000 shares.
The
company issued an update (http://biz.yahoo.com/pz/050225/73436.html),
after the close, Friday.
Within that release, Biocurex noted
that it is progressing with it's licensing negotiations as well as continuing
efforts to return its shares to the OTCBB from the Pink Sheets where it
has traded for the last few months.
Risk-oriented
investors should begin or continue to accumulate Biocurex at these levels
with an eye to buying on dips, should they occur.
The shares executed a good technical
retracement, Monday, after Friday's run to $1.25. Once the shares hit the
88-cent level, Monday, they reversed direction and moved up to close at
97 cents. It appears from the trading action that the next chart resistance
point kicks in at the $1.44 level.
Volatility is certainly no stranger
to the shares of Biocurex. Since we alerted the readership to the company
in October, 2003 at 17 cents, the shares subsequently shot up to $3.90
in early 2004--prior to the peak we made a partial sell suggestion as the
shares crossed $2-plus.
A few weeks later the shares were
halted by the SEC to address questions the regulator had regarding some
of the company's claims. The company has and continues to cooperate fully
with the SEC to resolve the matter. In May 2004 the shares were moved to
the Pink Sheets in accordance with NASD rules.
Pushing Forward.
As we have said before, even though
faced with these challenges, Biocurex continues its important work and,
over the balance of 2004, produced impressive refinements and results for
its proprietary RECAF ? blood and tissue tests, both in-house and with
external partners. On November
30th, for example, we published a piece on the developments on
Biocurex's RECAF ? blood test as it applied to the detection of prostate
cancer and its apparent superiority over the standard PSA test.
The company has steadily built an
impressive list of product results and while still in its formative stage,
management has continued to drive forward both with R&D, exposing it's
technology to potential partners and licensees, as well as continuing licensing
discussions with appropriate third parties.
The Bottomline?
Biocurex is an extremely interesting
company with, we believe, compelling potential. It has something
for everyone, whether trader or long-term investor. For both, we believe
a core position at these levels in the long-term end of the speculative
portion of a portfolio makes sense. We further feel that patience has and
will be rewarded as the company moves toward commercialization, continues
licensing discussions and develops new products while refining its current
offerings.
Obviously, we will continue to bring
you news and our take on Biocurex if, as, and when, the company makes further
announcements.
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