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Strategies & Market Trends : Ask Vendit Off-Topic Questions
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To: Vendit™ who wrote (2456)12/6/2004 4:11:23 AM
From: Walkingshadow  Read Replies (1) of 8752
 
Hi Reid,

Here's a stock (BCII) that has been under accumulation. Note the recent and sustained volume surge over the past 7 months. Institutions own most of the shares already; insiders own about 27%.

139.142.147.218

The chart shows a unique "step" pattern. Here's the 3 year chart. Very unusual.

139.142.147.218

You will see that BCII has been in a sideways consolidation and appears to have formed an ascending triangle over the last 7 months. The amplitude of the oscillations has diminished over this time. On Thursday and Friday, BCII staged a breakout attempt on a sudden surge in volume (about 3 times normal volume).

Friday's candle suggests the breakout attempt may not succeed this time. Obviously, big boys are here on the long side; shorts hold about 11% of the float, or 6 days' trading volume.

Revenues are expected to quadruple over the next fiscal year. The company has two FDA-approved products, two in the pipeline, zero debt, $112M in cash, and increasing profits. Sounds like a lucrative takeover candidate to me.

All this, together with the past history of this stock, suggests to me that an explosive move will occur, but one would probably have to be patient. This could take a month or two to fully uncoil.

Then again.... I wonder if the volume on Thursday and Friday reflects some activity based on insider knowledge ???? Maybe something big is cooking there.

T
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