Market Watch week of 10/05/2009

[imromo24]

while investing is siri I was able to say "if this goes to zero i still feel like i got my moneys worth in entertainment value"

with spng im not sure i can say that, even if it went to zero someday I want to at least watch my account being "tradeable" through this investigation and what not.

The hope i still have is that the SEC document stating the reason for suspension was:

The Commission temporarily suspended trading in the securities of SpongeTech because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the amount of sales and customer orders received by SpongeTech, investment agreements entered into by SpongeTech, and SpongeTech's revenues as reported in its financial statements. In addition, SpongeTech has not filed any periodic reports with the Commission since the period ended Feb. 28, 2009.

to me this screams "we have to do this because someone keeps calling and sending emails and letters telling us to shutdown spongetech so we are obligated to pursue"

who raised the questions is my hope and savior here....just having followed it so closely there is clearly someone out to "get" spongetech....and it seemed with every good thing the company kept doing the intensity on the take down grew..

Im going to sit the next 2 weeks with the thought that the SEC suspended spnge to protect the investors and the company from "these people"

We shall see....

I doubt the PR wire goes dead during these 2 weeks so I can still get some value of the drama....


Can anyone piece together what might be going on? SPNG issues a PR "setting the record straight" and says there is a group of shorts harming the stock....They have filed 2 lawsuits and a a PR for the companies strategy and accomplishments...

This could be a David and Goliath of massive proportion...(or im starting from scratch with a pile of lessons learned...)

Pray for me

[imromo24]

cool thing is spnge upticked to .061 before it was suspended which means i made money on the 12k shares i picked up friday at .06!

(those mf'ers better be working around the clock on making the financial statments right)

[imromo24]

someone found the spongetech patents

http://www.secretstocksociety.com/SP...ed_Release.pdf

http://www.secretstocksociety.com/SP...&_Moisture.pdf

[Los Tiburones]

Hey Romo,

Find myself agreeing with your assessment frankly. The whole thing has that feel of "I small a rat" in it. The question in my mind is just what is the angle of The Post in this ? ... have a hard time buying that they of all people are out for the common good in this.

It doesn't seem that far removed from all the shennaigns that have gone on with Sirius XM. Being relatively new to all the history of these pennies it does seem interesting that the SEC has been paying some particular attention to this realm, maybe it's the norm and just happens to be things we are involved with. But if their down here poking around ... what about the hue and cry, "Stock Shock" ... We know there was an effort just from within our own ranks if you will ... Where is that investigation?

[billhart22]

Hey Romo,

Find myself agreeing with your assessment frankly. The whole thing has that feel of "I small a rat" in it. The question in my mind is just what is the angle of The Post in this ? ... have a hard time buying that they of all people are out for the common good in this.

It doesn't seem that far removed from all the shennaigns that have gone on with Sirius XM. Being relatively new to all the history of these pennies it does seem interesting that the SEC has been paying some particular attention to this realm, maybe it's the norm and just happens to be things we are involved with. But if their down here poking around ... what about the hue and cry, "Stock Shock" ... We know there was an effort just from within our own ranks if you will ... Where is that investigation?

I have heard it said many times over the last couple of months that the SEC was going to get involved with OTC stocks, because people were getting screwed over. They said for the first time that there has to be regulation of the OTC's because of shell companies and plain all out fraud.

I am not saying this is the reason, but could be. Maybe that is why MGLG and SPGNE both had their trading halted. I know that they were planning on breaking hard on NSS's.

I have read all of the posts on the Shrub and the Spokettes didn't offer anything of really solid value.

Maybe a good indicator will be on the 7th? of October when MGLG is eligible to trade again. It is the 7th, isn't it?

[Ramsey]

Frankly, if I wanted to pay for drama and headaches, I'd come home with a new motorcycle ;-)

***

One thing that IS for certain is that something just isn't right. Yes, I know - master of the obvious over here.

There are a few things going on:

1. 10K overdue
2. rev split withdrawn
3. fugu deal gone fubar
4. lawsuit with fubar
5. lawsuit with spontech inc
6. weren't there some PRs sent out slamming other companies & shorts?

Tib mentions in another post about Stock Shock.

Yeah, that's a time-bomb. And frankly, I'd be hard-pressed to think that any person of power is going to go *there* - not with Sirius XM's name on it. Too many people with too much power has their date/time stamp on that memo.

Now, Spongetech Delivery Systems -- there could be a chance for it to become the poster child of the SEC. It's possible. A stretch, but possible - at least in my mind.

1. They're relatively new.
2. They're not taking away $ from the old white guys.
3. They're being shorted -- but not nearly as much as the aforementioned company.
4. The biggie is that the SEC (and others) *need* a company to prop up so that they can say "look here -- we're working for you".
- and by my hillbilly reasoning, I'd reckon that SPNGE hasn't been so entrenched and ****ed with enough to *really* burn too many fingers...and even then, I'd imagine that the naked shorters would only get a handslap.

***

Right now - well, right now, I'm okay with the haps. I may even be happy about it.

As Romo says...these m'fers should be getting their proverbial sh&t in one sock during this little furlough.

Me - I'd like for them to kick their accountants into high gear and come out with that 10K on the 16th! Er...make that the 17th...


Anyway...

while investing is siri I was able to say "if this goes to zero i still feel like i got my moneys worth in entertainment value"

with spng im not sure i can say that, even if it went to zero someday I want to at least watch my account being "tradeable" through this investigation and what not.

The hope i still have is that the SEC document stating the reason for suspension was:



to me this screams "we have to do this because someone keeps calling and sending emails and letters telling us to shutdown spongetech so we are obligated to pursue"

who raised the questions is my hope and savior here....just having followed it so closely there is clearly someone out to "get" spongetech....and it seemed with every good thing the company kept doing the intensity on the take down grew..

Im going to sit the next 2 weeks with the thought that the SEC suspended spnge to protect the investors and the company from "these people"

We shall see....

I doubt the PR wire goes dead during these 2 weeks so I can still get some value of the drama....


Can anyone piece together what might be going on? SPNG issues a PR "setting the record straight" and says there is a group of shorts harming the stock....They have filed 2 lawsuits and a a PR for the companies strategy and accomplishments...

This could be a David and Goliath of massive proportion...(or im starting from scratch with a pile of lessons learned...)

Pray for me

[billhart22]

What's up guys? We could sure use some input to figure out where we are going. Good, bad or the ugly.

I know that some of us have had some pretty wretched news lately. Whether is is a water well rig drilling for oil or a big name on sports T.V. and in stadiums..it just goes to show that anything can go tits up.

Spongetech is a mystery to me so far..I think the SEC stopped trading to clarify things because of complaints.

MGLG....who the hell knows...Tib has been trying to make lemonade out of the civil action by the SEC which still hasn't produced a concept. I have read the thing four times and it gives nothing but a confusing set of circumstances. Truthfully, at this point with MGLG it is hard to nail anything down. I would imagine that is why the SEC is involved. Tib has the best handle on it.

It almost sounds like a movie script (as insinuated by Tib).

Spongetech must have got into a bunch of big pockets...think about it..A bunch of young NFL players with a lot of money and wearing their logo on their practice jerseys. Wouldn't that make a young rich guy curious enough to ask who the hell Spongetech is on their jerseys? Then one player says to the other...blah blah blah...and they have whip "x" amount of grand for SPNG. When SPNG went to SPNGE (which the "E" means delinquent on filing, that should have been a big red flag). That would have been the time to bail if you were at a profit. A name change doesn't always mean that it moving up to the East Side.

What will come out of this one is anyone's guess. It will be interesting though and I hope that all vested people get their money back.

BTW, I hate the spelling check on this site...it won't let you do plural possesive (i.e. anyones') without a spelling error.

[billhart22]

I am in for 1100 shares of GSAE @ .50..ya, cheap I am, but that is my playing money. I don't use "Money Money" for anything..Let's see what happens...Possibly nothing. Time is on my side.

[Dr. Dave]

Hi Bill -

Yeah, it's been interesting... since I'm not that avid on the fundamental dd as some of you guys, I actually thought that the SPNG to SPNGE was the result of moving from pinks to otcbb. Was SPNG always otcbb? I didn't even think about the 5th letter deal. So I'm glad you brought that up as something to watch for.

Anyone remember the date of the change?

I guess my plan of adjusting buy in amounts by pps saved me from a bigger loss, and it's also really making me that I shouldn't trade without getting on a better sleep schedule. I know everyone's trading plan is different... but I prefer to get out when there is a trouble flag, and end it there. When it dropped out of the pennant on that huge red down candle, I should have been out... that would have softened things. But oh well. I have been reading a new book, and it stresses, along with the other book I read that there is no right way to trade, but you have to stick to your guns (plan).

[Dr. Dave]

My schedule is slow flipped, lol... I spent the night in the office tinkering away - then a little bit after the market close came home, fell asleep, then woke up at about 9pm. Looks like I'll get some market action tomorrow!

Tickers tickers... need some tickers.

I hate automatic things on software that you can't turn off...
I have to write a lot for my job, and the rest of the world wants microsoft office documents. From startup, that thing drives me nuts, like if I want to open it, but dig thru and find the docs I want, it automatically opens up a new doc, that I have to close... then from there, it autoformats everything, changes spelling for me.

pH is pH, not Ph. I try to turn these things off, but it seems that after an update, or someone sends me something, it reverts back to defaults. I asked my friend, a guy in management at MSFT, if they could put a button in the middle of the toolbar to turn off everything automatic.

LIMH, I like how I used MSFT instead of microsoft.