Market Watch week of 10/05/2009

[Dr. Dave]

I see gold futures at 1020... I'm wondering if a bad report from Alcoa will start a drive up in gold. I bought NSU and GSS... going to have some tight stops on them... we'll see what happens. If gold rallies, I expect it to launch off, as folks have been waiting, and when it starts, I'm betting the influx will be big.

My trending software only picked up 4 new bullish hits in the last 3 days - one banking, 1 diamonds, 2 gold. Sector tracking at sc shows that gold was #2 today, second to disk drives.. funny that disk drives are now a major category.

The bears were natural gas bear, and a communications company. I'm wondering if NG is just flatlining, or making a run. Some stocks I used to trade were GDP and SWN - which had were natural gas orientated I believe.

SIRI really needs to bounce off its 50 SMA. That's the one support line the masses follow, lets hope it closes above 0.60 tomorrow. 3 days below and a stock is often toast.

I'm just rambling.

[ShotsII]

Miller Energy Resources Reports 145% Increase in Revenues
MILL10/05/09 14:52 EDTPR Newswire
HUNTSVILLE, Tenn., Oct. 5 /PRNewswire-FirstCall/ -- Miller Petroleum, Inc., dba Miller Energy Resources, (OTC Bulletin Board: MILL) announced today that total revenue for the quarter ended July 31, 2009 of $527,620 as compared to $215,265, during the same quarter in 2008, a 145% increase.

"We credit this increase in revenue and this profitable quarter as a result of the first phase of our aggressive acquisition program that added ETC and KTO here in Tennessee," said Scott Boruff CEO, of Miller Energy Resources. "The combined cost to the company for the two firms was 2,000,000 million shares of Miller stock, valued at $570,000. The combined assets of the two firms is now valued at over $2.3 million. With major acquisitions on the horizon our expansion plans are ahead of schedule. We have solidified our institutional investment relationships and now have the ability to expand at an aggressive pace. As Tennessee's largest owner operator of oil and natural gas wells we can now shift our attention to nationwide energy opportunities."

[thetree]

They are related. The KTO mentioned in the PR is a former Bill Goodwin company, Ky-Tenn Oil. They operate in the same region as MGLG. I would be really curious to hear if they are still having BTU issues, because those numbers are less than impressive when you consider the number of wells and lease acreage they own.
And as far as MGLG goes, we should know today or tomorrow what is going on. I do think that if they trade again it will lend them a certain amount of credibility. Either way, I will be following the trial of the con-artists trying to pull this off.

[Dr. Dave]

My bet on MGLG is that I'm out another $80

[ShotsII]

My bet on MGLG is that I'm out another $80

Lol. I hope you're wrong, Stock Doc. I'm sure you do too.

[Dr. Dave]

Let's hope so, especially for the others who have cash in this thing.
Do you eat in the hospital cafeteria? I'm thinking of hitting it this morning. My office is freezing today! Something steamy sounds good.

LOL, I was in there the other day, and they had those mixed vegetables - you know, the kind with the carrot cubes....

So when the guy asked what sides I wanted, I said with the most straight face possible. "I'll have the institutional mixed vegetables", and he looks at me, smiles, and says, "a very fine choice, sir".

[Los Tiburones]

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.

Good morning all ...

Picked this up last night and saved it for some morning levity, forget the comments, just scroll down to the bottom and give it a couple seconds to load correctly ...

http://investorshub.advfn.com/boards...ge_id=42208780

Bill, on miggle and The Hijacking ... Interesting how that all comes across but I have considered that my investment is gone and anything that might come of it is a bonus - For the life of me I cannot figure out the intangibles and even if they are complicit in the whole scheme .. It goes right back to who is the hijacker and the hijack-e ... I am more suspect than anything, the 'well pictures' speak for themselves as you well pointed out (No pun intended). One of the shrubettes has been at pains to get the point across to sheepettes that this is not about whether or not the company is legit per se but if they have a valid CUSIP # - He did go further and get to the crux of the matter - Even if they prove to be OK on that front, we still have the fact that they haven't given 'us' anything in the way of numbers, production ... Boy, that's long winded. At any rate the suspension lift's at midnight tonight ... so Wednesday it is IF there are any MM's wiling to quote it.

Oh and I never get tired of mentioning this - Download this little gadget;
www.iespell.com for the spell checker - It's a small, unobtrusive program that sits in both your "Tools" menu as well as in a the right click settings, it's the perfect tool for these forums ...

[ShotsII]

Let's hope so, especially for the others who have cash in this thing.
Do you eat in the hospital cafeteria? I'm thinking of hitting it this morning. My office is freezing today! Something steamy sounds good.

LOL, I was in there the other day, and they had those mixed vegetables - you know, the kind with the carrot cubes....

So when the guy asked what sides I wanted, I said with the most straight face possible. "I'll have the institutional mixed vegetables", and he looks at me, smiles, and says, "a very fine choice, sir".

as a matter of fact I'm having breakfast in the cafteria now. I'm braving the hash n eggs for the first time.
You live in NYC right? The absolute beat hash n eggs you'll ever have are at Arties Diner on 82nd n Broadway. Nothing but the freshest ingredients and large chunks of corned beef.
Man I wish I was there now. This canned hash/ mush is awful.

[Los Tiburones]

Arggghhh ... Something about the Pinksheets site, clicked on a link and it took down all my tabs ... restarted explorer ... Dog gone it ...

Anyway ... Dr. Dave you were asking about SPNG to SPNGE

09/16/2009
Effective September 18, 2009, SpongeTech Delivery Systems, Inc. will change its OTCBB stock ticker symbol to SPNGE from SPNG.

More like had their ticker changed. They got slapped with the "e" for being late filing the 10-K. They have always been on the OTC.

[ShotsII]

It's seems that MESA had a scare of being delisted. So this approval for exchange change is an absolute life saver for them.

I think they will be taking a big bounce up on this guys. You might want to get yourselves a small piece.

Full disclosure: I bought 8100 shares @ 0.2619 last night in after hours trading. I used the money from my sad sale of BEHL. (Shoulda took you're advice on that one Bill)