BioExx Specialty Proteins still not ready to serve

Nov 9th, 2011 – Comment

I am not seeing enough to indicate that it is worth the risk to buy at this time.


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Lou Schizas is an equities analyst, investor, entrepreneur, professor and television and radio personality – and a true believer in the happiness-inspiring powers of capitalism.


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Hi Lou

I purchased some of this stock when it was in its infancy. I sold enough to cover my costs when it was around 1.90. It hit a high of $2.84 and then dropped to as low as $0 .26.

It is now recommended as a  buy.

Time to buy again?

Thanks

Marty

PS Enjoy your morning comments on 640.

 

Hi Marty,

This will be the third time that I have examined the case for BioExx Specialty Proteins (BXI TX). The first time was on November 3, 2010 when the shares were trading at $2.74. It was advised that it would be prudent to take some profit off the table given that the stock had generated a very generous return in a short amount of time. In retrospect that was the right call.

The last time I reviewed the case for BXI was on June 08, 2011 for Satinder when the stock was trading for $1.37. It was suggested that it would be best to wait for the release of Q1 results later in the month before making a buy. Again that was the right call.

The question now is whether BXI is a buy at these levels? The charts will provide some guidance for your further evaluation.

 

 

The three year chart paints the picture of a devastated landscape. The erosion of capital has destroyed many dreams. The outstanding features are a vicious downtrend and a death cross that formed in March of 2011.

 

 

 

 

The six month chart isn’t providing a lot of evidence of a trend reversal. The MACD is flat at best and the RSI is headed lower. Volume has not been so robust to suggest that the market is looking to take advantage of these low prices.  I am not seeing enough to indicate that it is worth the risk to buy at this time.

BXI is scheduled to release Q3 on November 16, 2011. You will have a better sense of trend after that.

Make it a profitable day and happy capitalism!

Categories: Agriculture
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