Ugly start for sure. Will be interesting to see where it settles out later this morning after the cowboys have gotten finished with it....
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Ugly start for sure. Will be interesting to see where it settles out later this morning after the cowboys have gotten finished with it....
OK, I didnt' expect it to drop so much at the open. The whole market is dumpring right now.Quote:
Originally Posted by bigsandy
I am tempted to go ahead and gamble another 500 bucks and just buy more below a penny and a half and see what happens.
Chuck:
Great strategy as I believe any dips are temporary. Company curiously quiet, could indicate they've got nothing to sell into the recovery.
I think your additional $500 will make you some money, I just don't have an appetite to pony up anymore funds at this time.
LOL....and I was trying to keep up with Chuck!!!!! Sitting at 1.2m and not sure I'm going to be buying anymore. My only other holding that's green is SIRI. I saw BCLE yesterday and thought to myself if I only bought back in I would have made good $$$, I have a whopping 28 shrs...just kept it in my acct to watch.Quote:
Originally Posted by Los Tiburones
Ouch - the market is taking a thorough beating!! I'm pissed. I was cashing out on several position in case of changing monmentum, then got greedy and took a major position in TCK (metal mining). TCK has historically had some nice upward and downward moves that even a novice like me could see, but this time around, the bottom is falling out, and I'm stuck with dead money for now. It has a nice low multiple and decent financials. Something is going on, and as usual, I'll be the last to know. waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa.
On the flip side, I did take a minor position in SPXU (3x short S&P ETF), and obviously, that is nice and green. The question is whether or not I should sell it with a respectable 10% gain, wait for more or increase my position.
I say sirriusly take the 10%! That's 10% that you didn't have yesterday and if you wait you may not have it in the morning.Quote:
Originally Posted by SiriuslyLong
TCK is good. It's a bouncer, so hopefully, you'll be back up within a month or so.
The sell off in the market today is brutal.
It would be nice to have something positive and sunny to say, but I just can't think of anything:rolleyes:
BCLE is back under a penny.
Thanks for the words of wisdom. I'm thinking of picking some more up since it is soooooooooooooooooo loooooooooooooooooooooooooow right now.Quote:
Originally Posted by candleman
Oh My!
We intereupt the regularly scheduled market watch thread to bring you ...
Los Tiburones!
Ah ...
Game 1 - Sharks 4 Red Wings 3
Game 2 - Sharks 4 Red Wings 3
Game 3 - Sharks 4 Red Wings 3
(There's a pattern developing here)
:D
Yeah baby!
Quote:
Originally Posted by Los Tiburones
Pure luck! What do Texans know about ice anyway. :rolleyes:
And I thought we were buds. :p
Julie
Very bad news for those of us that still hold any Spng stock.
Read and weep........:mad:
By Chad Bray
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The top executives of Spongetech Delivery Systems Inc. (SPNG) were arrested and charged Wednesday in an alleged scheme to defraud investors by reporting falsely and grossly overstated sales figures.
According to a criminal complaint filed Wednesday, Michael Metter, Spongetech's chief executive and president, and Steven Moskowitz, the cleaning-products maker's chief operating officer and chief financial officer, were charged with conspiracy to commit securities fraud and obstruction of justice. They each face up to five years in prison on the conspiracy charge.
Metter, 58 years old, of Greenwich, Conn., and Moskowitz, 45, of Flushing, N.Y., are expected to appear before a U.S. magistrate judge in federal court in Brooklyn later Wednesday.
"The defendants in this case--Spongetech's highest corporate officers--are charged with executing a bold scheme to portray Spongetech as a company that was performing at a level far above reality," U.S. Attorney Loretta Lynch said in a statement. "As detailed in the complaint, the audacity of their scheme was matched only by their obstructive efforts during the course of the SEC's investigation."
The U.S. Securities and Exchange Commission also has filed civil charges in the matter, Lynch said.
In the complaint, prosecutors from the U.S. Attorney's office in Brooklyn alleged Metter and Moskowitz between January 2007 and May 2010 publicly reported the company had secured purchase orders or made sales to five customers that did not exist.
For the nine months ended Feb. 28, 2009, the purported sales to those five customers accounted for as much as 99% of Spongetech's revenue, prosecutors said.
During that time frame, the men allegedly filed multiple false reports with the U.S. Securities and Exchange Commission and issued numerous press releases touting the false sales figures, typically via the Internet, prosecutors said in the complaint.
Since the SEC issued subpoenas in September as part of a formal probe of Spongetech, Metter and Moskowitz allegedly have tried to fabricate the existence of the five purported customers, according to the complaint.
They allegedly sought to create Web sites and virtual offices for the companies, have furnished investigators with phony purchase orders and produced "questionable documentation" purportedly constituting proof of payments by the customers, prosecutors said in the complaint.
The SEC suspended trading of the company's stock Oct. 5, according to the complaint. The suspension expired Oct. 16, and Spongetech has been trading only in the "grey market," a market for securities not listed on any stock exchange, the Over-the-Counter Bulletin Board or the pink sheets, according to the complaint.
A phone call to Spongetech wasn't immediately returned Wednesday.
An automated message on the company's investor relations phone line said the company would make no comment during the SEC investigation and would only make public comments via press releases.
-By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com
Hehe ... were still buds ... but, Texans?Quote:
Originally Posted by julietoo
They didn't even make it to the big show this year ... I am really confused ...
As I was when I wrote that this morning. :o Please note the time ofQuote:
Originally Posted by Los Tiburones
composition (6am) as well as the authors (me) state of mind at that time of the
morning. Add into that mix zero coffee, :yawn: and you have my strange reply.
Sorry. ;)
Now where were we? Oh ya. Go Redwings!! :clap:
Julie
Brutal ... Just happened upon it after checking in on the Guru. Pretty incredible with all the sponserships they had formed ... wow, it was all true after all. Sorry to hear this for you guys ...Quote:
Originally Posted by candleman
Considering I also had that momentary lasp of your location ... where's the 'duh' icon?Quote:
Originally Posted by julietoo
Those guys are well oiled machine and after all these years of dominating just about everything that gets in their way ...
Nope. Not feeling the sympathy at all! LOL!!!
Go Sharks!
(You're hogging all the smileys again!)
BCLE is back up to a penny right now. This has been a daytraders dream the last 2 days....buy at .007, sell at .01, you gotta love it. I'm still holding a position for a nice runnup too.
QASP may release some big news today about closing on an acquistion. It may take a quick run up to .014 or so, just in case someone is looking for an exit point. I'm still long and strong on this one. I won't be happy till I see 3 cents.
SPNG has been bouncing between .005 and .012 today. I own 40,000 shares of this company at an average of 7 cents. I've decided to continue to hold. If the company exec's are replaced and the financials get straightened out, this still could be worth something someday. I see no reason to sell now, it's not worth it!
Hey Chuck....thought everyone was asleep this a.m. lol.
I appreciate your thoughts on BCLE. I'm hoping for an even bigger run along the lines of last summers run the mid teens. Doubt it will make it that high, but a nickel or a dime would be awesome.
As for Qasp, this one is intriguing. I know you've traded this one quite a bit. I'm in at the low 2's, hoping for 3+ myself. Should get there this summer if things continue along the same path.
As for the SPNG...what entertainment.
Are you in BEHL at all? This one seems to be waking up. Looks to have the potential to actually make it outta penny hell.
Yep, I'm in BEHL too. I think we may all have gotten into these at about the same time.
I hold about 60K shares at an average of around 2 cents.
It looks, smells, and feels like a real company with a real product. So, I continue to hold. I did a little day trading with it a month ago and made some spending money.
I have a couple of others like ACDU and GSAE, that have been in the basement for too long now. I'd like to see some movement on these also.
Quote:
Originally Posted by bigsandy
Hello everyone. Still lurking just not much to say except that the blue dog is gettin spanked right now. Whoa!! Sorry to hear the bad news for all the spng holders out there. I'm only in Behl right now just waiting for something to happen. In at an avg. of .015 so I think I'll be ok. GLTA. I see Siri is starting to rebound, must have hit a few stop losses.
Candleman you SOB!!! I sold SPXU for a shitty 10% gain, and look what happened today!!! Waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa. Oh well. Looks like I have dead money for a couple months.Quote:
Originally Posted by candleman
Wow. What a mess.