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Looks like this week is going to be packed with action:
SPNG may be releasing some of their good news
MGLG is expected to update us on what is going on (hopefully the flow #'s) and their website
EVFL posted their financials after hours today so maybe this will allow us to escape the .0001-.0002 range or at least be able to sell at .0002
I am going to contact QASP and see if I can get the inside scoop on the new acquisition date as I live about 45 minutes from the Jax office.
Hey young,Originally Posted by investyoung
I was thinking the same thing about evfl. It sure would be a nice change to quit oscillating between 1 and 2. EVFL made money, so all is not bad.
Mglg...I will believe it when I see it. The molasses snail Willoughby is the company propagandist and the Queen of Tarts. She will dazzle you with pixie dust and fairies and then feed you to the wolves....lol!
Qasp is honorable as far as I can tell. I wish MGLG would go up so I can sell it and put it into Qasp. If EVFL went spazzo and jumped up there, I would dump it in a heart beat and buy Qasp.
Last edited by billhart22; 08-31-2009 at 11:22 PM.
tomorrow will be full of action in spng, it may be a great opp for anyone not in to get in, if they file an extension for the 10k then there will be a selloff first thing in the morning....im no expert remember just bringing info
im looking for a drop probably below .18 with a possible spike as low as .15...I don't think it can pass .15 though, but certainly it could hit .18...
The extension if they file one won't be taken as good news...but for as much research as I have done, there is no need to worry, the extension is simply because they switched accounting firms i think 3 times, I think they hired a firm just for the 10k...(while they were working on getting D and T)
Last edited by imromo24; 08-31-2009 at 11:08 PM.
nothing has changed fundamentally in spng, it is simply a bad look to the untrained that they would be filing an extension...
Tree,
I wish I could move MGLG also so I would be able to buy more Qasp. If EVFL jumps up, then look out..you will see me pulling the rip-chord. I just want to flip evfl for right or wrong...just cash, but the most I can get from it without hanging out and being stupid and watching the pps drop like mglg did day after day until it was down to .0008, then .0007 then...you have the idea.
This is really going to suck if the AFL-CIO pushes this transaction tax on us. Big question here! What in the f..K does the AFL-CIO have to do with determining tax on stock transactions? Something is way f*cked up! If I am missing a point, please tell me.
Don't worry Bill, Obama promised not to raise the taxes on anyone making under 250k so I'm sure their will be a clause in their for us little investors...
Ya, and Castro is a conservative. He is starting to sell rice cookers for a profit instead of requiring you to buy one at a governmental discount.Don't worry Bill, Obama promised not to raise the taxes on anyone making under 250k so I'm sure their will be a clause in their for us little investors...
Hmmm ...
Heres a piece for you Bill ... http://thehill.com/homenews/house/56...all-street-tax
I have zero sympathy for GS and think this is yet another crack pot idea over all - Instead of going at the root of the issues, we get these silly games ... So they stick it to GS with a measly tax comparatively, not unlike some of the so called 'fines' that they and others have received for their shenanigans ... It's a joke, none of this is going to cause the slightest bit of discomfort, they already are the Gov.
The high speed trading is pure BS, but they won't tackle that ... The whole thing smells like some piece meal appeasement that allows them to continue reaping windfalls .... No sense in going on here ... But you are right about what the AFL-CIO has to do with any of this ... It's all spelled out clearly in the first couple of paragraphs ...
AFL-CIO, Dems push new Wall Street tax
By Alexander Bolton - 08/30/09 10:17 AM ET
The nation’s largest labor union and some allied Democrats are pushing a new tax that would hit big investment firms such as Goldman Sachs reaping billions of dollars in profits while the rest of the economy sputters.
The AFL-CIO, one of the Democratic Party’s most powerful allies, would like to assess a small tax — about a tenth of a percent — on every stock transaction.
Small and medium-sized investors would hardly notice such a tax, but major trading firms, such as Goldman, which reported $3.44 billion in profits during the second quarter of 2009, may see this as a significant threat to their profits.
“It would have two benefits, raise a lot of revenue and discourage speculative financial activity,” said Thea Lee, policy director at the AFL-CIO.
“The big disadvantage of most taxes is that they discourage some really productive activity,” she said. “This would discourage numerous financial transactions. People flip their assets several times in an hour or a day. They make money but does it really add to the productive base of the United States?”
Lee said that taxing every stock transaction a tenth of a percent could raise between $50 billion and $100 billion per year, which could be used to pay for infrastructure projects and other spending priorities. She said the tax could be applied nationwide or internationally.
The proposal would hit especially hard those hedge funds and large banks earning hefty profits despite the shaky economy from a practice known as high-frequency trading. High-frequency traders use powerful computers to conduct hundreds of thousands of orders in mere seconds, taking advantage of slower traders.
Only the biggest investment firms can afford to develop the technology, which delivers handsome profits at little risk. The growing popularity of the practice has contributed to the soaring volume of trades on Wall Street in recent years and, some critics argue, market volatility and rampant speculation.
High-frequency trading is estimated to earn about $20 billion in profits for the nation’s biggest investment firms, who guard the their practices zealously. Goldman Sachs, for example, has accused a former computer programmer of stealing the valuable code, launching a high-profile legal battle.
The AFL-CIO and some allied Democrats would like to cut down on the overall level of trading, or at least give the U.S. government a piece of the action, which would likely tamp down trading.
Democrats and labor officials would also like to take a bite out of Goldman’s profits. Liberals are angry the company, which immersed itself in the frenzy of speculation leading to last year’s financial collapse, is now making huge profits after accepting (and repaying) $10 billion in government aid. Goldman employees are on track to earn an average of more than $700,000 this year.
There is also a growing realization among Obama administration officials and lawmakers that tax increases may be necessary to curb the ballooning federal deficit.
The idea of taxing financial transactions has gained some support on Capitol Hill and among senior government officials in London, a major foreign financial center.
In Congress, Rep. Peter DeFazio (D-Ore.), chairman of the Highways and Transit Transportation Subcommittee, has seized on the idea as a way to help pay for a new massive surface transportation reauthorization bill, estimated to cost $450 billion over six years.
Instead of taxing all stock transactions, as the AFL-CIO has contemplated, DeFazio wants to focus on oil-based derivatives.
At the end of July, shortly before the House broke for the August recess, DeFazio introduced legislation that would impose a 0.2 percent transaction tax on crude oil futures contracts. The legislation would tax the options for oil futures (in other words, the premium paid to have the option to buy a futures contract) at 0.5 percent.
“The tax is simple; it imposes a small burden that penalizes short-term traders for speculating on the price of oil,” DeFazio said in a statement. “This legislation exempts legitimate hedgers from the transaction tax. Since the tax is on speculation only, it deters speculation and undermines much of the crude oil price bubble.”
DeFazio estimates his proposal, which has been referred to the House Ways and Means Committee, would raise $190 billion over six years. It has 29 cosponsors.
An aide to a liberal Senate Democrat said a transaction tax seems like a good idea but did not know who might champion the cause in the upper chamber. An aide on the Senate Finance Committee was not aware of discussion of the proposal.
Taxing financial transactions has gained some momentum in Europe. Lord Adair Turner, chairman of the Financial Services Authority, Britain’s top banking regulator, voiced support for taxing financial transactions in a recent magazine interview. The French government has endorsed the idea as a way to fund development in poor countries.
The proposal to tax financial transactions is also known as a “Tobin tax,” after the late American economist and Nobel laureate James Tobin. Tobin proposed a transactions tax in the early 1970s to discourage currency speculation after the collapse of the Bretton Woods fixed-exchange-rate system.
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If you believe in this shit, then you don't belong in the stock market!
Last edited by billhart22; 09-01-2009 at 12:27 AM.
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