In The Meantime, Spring Cleaning and Some Updates...

By: John Gay - The Quiet Investor - Date: 01 April, 2006

While we wait for the market to make up its mind about its direction, we thought we'd do a bit of tidying up. We are going to jettison two companies.

We will give up on Penn Treaty (PTA) around $9.25. They were recommended in August 2004 at a reverse split adjusted $6.36, and have been as high as $10.94 (+72%) since. They are delaying publishing their 2005 results because of a need to bolster their reserves because their claimants are living longer than actuarially.

Gone, too, is Touchstone (TASA). Recommended in January 2004 at $2.00 and now trading around $3.00. The stock has been as high as $4.65, or +133% since it was recommended. It is trying to capitalize on the testing required of the "No Child Left Behind Act", but success seems limited.

Bioject (BJCT) did 12.3 million revenues in 2005 vs $9.5 million and reduced losses to 48c vs 68c. Refinanced debt, and with some licensing collaborations on their needle-less injection system, they expect to "reach operating profitability" this year...

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