BPTR got clobbered last week along with KAL in one big sell off day. It wasn’t really all that big- but a little stock can go a long way in illiquid markets.

I continue to believe a lot of this bizarre trading is associated with the demise of REVCO- they were huge and many normally quiet stocks took it on the chin last week out of nowhere.

BPTR came down hard on the 19th on a mere 107,000 shares of volume- precipitating 157,000 share the next day as the stock made a new multi month low.

Technically the chart simply looks awful. There isn’t one positive thing I can say about the stock technically, other than it is simply cheap. Probably trading about 4 times earnings at this price.

You have to go back 1 year to find the stock trading this low. However, it is of interest to note what happened to the stock over the next few months from this level. It was the perfect time to buy.

As far as I know, there are no fundamental changes at the company. They should deliver well in excess of $50 million this year, and deliver at least another $.14 per share in earnings.

Is this the bottom?  I can’t say for sure- it’s very frustrating to find solid fundamentals with no corresponding price appreciation- just slow but sure muli month grind south. I’m now at a break even on the 100,000 shares I have held for about 1 year.

If the 4th quarter rally materializes, I just might have to pick up some more if it stays at these levels. It’s too compelling to stay here for ever.

Your questions and comments are welcome.