Bioprogress is a stock I have been in and out of quite a few times since it floated in May but not much mention here on the Investors' Room. Does anyone else follow this stock. I see it is up 1.5p today and a few good buyers seem to have appeared.

Looking to biuld a position from, here. May regret it. First lot a 63.75!!! Waitnig to see what happens over lunch before adding.

Ooops!

;-)

Constructive, Al!!! :-) but I know what you mean!
I am amazed there has been no comment from the Co. yet, Boyse. You would have expected a "No reason" RNS by now, unless there working on something that will affect the share price. Be it positive or negative!!!

I think the market is interpreting the company silence negatively and I don't feel great about it either - if there was a no reason RNS, surely it would have been released by now. The silence is deafening!

There not helping themselves with this one,joe... Markets nearly always assume silence negatively. Very badly handled IMHO. I am making the assumption there is a reason, either Pos or Neg as to why they cannot comment.

TONGUE IN CHEEK...
Wonder if GH is too busy closing his short from last month to comment!!! Wonder which CFD provider he used!(joke)

For a company to not comment on the HUGE price fall is IMHO very worrying.
I am virtually watching on the sidelines now as I am not happy with a company that behaves like that.
A no reason RNS should have been put out well before now.. so I am unfortunately having to assume there is a reason!

Taken from Ample (courtesy of pork belly on ADVFN)



On 18 Oct 04, Citadel Group, a large and successful Hedge Fund (with offices in the USA + LONDON), took out a large BPRG convertible bond in the USA.

They knew that BPRG was a very volatile and heavily traded stock due too the City's inability to value them correctly.

After taking out the Bonds, they have since been using the "convertible bond arbitrage" investment strategy, specifically designed for this type of situation, to make a mint shorting their own bonds. Using this strategy, they make money on BPRG whether they go up or down.

You will note that as soon as Citadel bought the bonds on 18 Oct, Citadel began shorting them and the shares began their slide !

This is not 100% certain, however, all the facts fit like a glove.

When will they go back up ? whenever Citadel decide basically.

See:

Citadel buy BPRG bonds on 18 Oct 04 :

CLICK HERE

"convertible bond arbitrage" explanation: (COPY AND PASTE LINK INTO Browser ADDRESS BAR)

http://www.magnum.com/hedgefunds/convertibles.asp

Info on Citadel:

CLICK HERE
The chart shows that almost immediately after Citadel bought the bonds on 18 Oct, the shares started their slide:

ive sold out for a loss of 1500 quid....i agree that in this case no news is bad news.....cest la vie

To be fair, BPRG did not make one announcement re share price drop from 1.30 to 60p last time. Just RNS's if there was news. Not good for investor relations. But at least they show consistency.

still nothing......tempted but my gut instinct says all is not well

Afternoon all,still no news.

Why should BPRG board say anything or pander to the market. It has the money. It also knows its own longterm value of the company. Why should it speculate when it doesn't have to. If one is gambling on short term price changes that is your own problem and created by oneself. Nobody made you buy or sell. (I was happy to buy in the drop but would have wished I had bought a little later than when I did. But I bought at a price based on my evaluation of the company.)
If it is a mistake, it is a mistake of my own making and I hope I don't repeat it to often. If it is a success I will tell myself I was lucky and to still DMOR and engage. Two things I am annoyed with are :-

1) I had expected volatility at about 120 and did not stop loss because I thought the stying would be less elastic than it has been.

2) secondly that I ignored the head and shoulder formation a few weeks ago October 26th . I am still learning. Dill and Bones etc would say I still have a hell of lot to learn.

Why should BPRG board say anything or pander to the market


good question......but it is usual to issue a reassuring statement when your co has halved in value on an exponential basis.

35p tomorrow?

Fred,,i admire your honesty,,badly burnt of north wales at 99.54,looking to sell today at about 30%loss,,,happy with my buys at 80 70,,up to now..

oops.....didnt mean halved

The old saying "Fear and Greed" drive markets is certainly highlighted by the way BPRG price moves.
I agree about why should they pander... But when your getting these sort of swings you need to reasure the Investors who bought longterm into the Company. The problem is these swings make people nervous. Institutional Holdings would stabalize things, but they dont have that luxory, yet. Plus they are hardly likely to woo any Big Investor on current share price volatility.
They all have recent memories of Dot Com which hurt alot of them in a big way.

Thats made me feel alot better,superrod,,just when my hangover is on the mend!!

sorry dave......i still think there is something bad brewing. havent a lot of experience of this share but loads of big money has departed and i dont believe the crap from the papers. ive been here before with interx. small traders pile in and the bigger boys use little guys money to get out ( minus mm commision of course and they must be buying luxury homes on this baby ).

Superrod,,,one mans bottom is another mans top,only yesterday i was looking for volatility,,my god i got it.
This is a real firework,,,,80.

Fred , people learn from mistakes. We can't avoid them and we all make them but many choose to blame them on anyone or anything other than themselves. Those that don't and take responsibility learn and survive.