Market Watch for week of 8/17/2009

[GoHerdGreg]

Ramsey--
GREAT to see a fellow West Virginian in here. I was with our Governor last night, and he was telling me about their new campaign of "Come Home To WV" ( http://www.wvopenforbusiness.com/hometowv/index.aspx )

Maybe you should come back home some day!

I am one generation removed from the coal fields of southwestern WV, just like you. If we keep talking, chances are we will discover we are related (it's ALL relative in WV).

Even funnier is that I spent the first 12 years of my career as a magazine-corporate-editorial photographer. Now, I am a magazine publisher, but my duties still include shooting college football and basketball games. Maybe one day I'll post up some images for you to peruse.

Andy--
The FedEx lady greeted me this morning with the box of goodies from you in the great state of Alaska. THANK YOU SO MUCH. Very generous and kind of you.
Keep pulling for BEHL to cross .20 and that Mayor's Half Marathon trip will be booked and paid for. I've only been there in November (Great Alaska Shootout in 2006), so June would be awesome to experience in Anchorage.
Still not sure what slice of WV I'm going to send to you...

[GoHerdGreg]

Bill--

One of the stories I covered in the '90s was at a snake-handling church in rural Tennessee, outside of Knoxville. Amazing stuff, and quite scary to shoot pictures of.

I live in a city of 50,000 people, so we don't have any of that stuff around here. If you drive 20 minutes in about any direction, however, all bets are off.

[Ramsey]

It'll happen, Greg. I'm relatively certain of it...

There is a large part of my being that I owe to my upbringing in the hills. My not_so_humble opinion is that the world has gone and *got too city-fied* and has forgotten the importance of mountains and streams and wildlife and things such as that...

I took my wife, then girlfriend, to the hills. She's a doctor's daughter - so, I had to show here where I'm from...maybe it's was a test - in any case, she passed.

Our son was conceived, on a subsequent trip, at the Hotel Morgan in Morgantown. We were there to purchase a vacation home. Sadly, our CA broker screwed the deal --- turns out she wasn't as smart as *those hillbillies*.

Anyway...there's a hilltop & four wheelers in my son's future.

***

I would be curious to see/read some of your work. I assume that there's an online edition?

Ramsey

Ramsey--
GREAT to see a fellow West Virginian in here. I was with our Governor last night, and he was telling me about their new campaign of "Come Home To WV" ( http://www.wvopenforbusiness.com/hometowv/index.aspx )

Maybe you should come back home some day!

I am one generation removed from the coal fields of southwestern WV, just like you. If we keep talking, chances are we will discover we are related (it's ALL relative in WV).

Even funnier is that I spent the first 12 years of my career as a magazine-corporate-editorial photographer. Now, I am a magazine publisher, but my duties still include shooting college football and basketball games. Maybe one day I'll post up some images for you to peruse.

Andy--
The FedEx lady greeted me this morning with the box of goodies from you in the great state of Alaska. THANK YOU SO MUCH. Very generous and kind of you.
Keep pulling for BEHL to cross .20 and that Mayor's Half Marathon trip will be booked and paid for. I've only been there in November (Great Alaska Shootout in 2006), so June would be awesome to experience in Anchorage.
Still not sure what slice of WV I'm going to send to you...

[linedrive]

Good Morning All...

This is day 2 of officially being out of the woodwork.
Hopefully, mglg will be up by afternoon.

Bill, I sent you 2 PM's ... everything is working properly now...please disregard them.

Thanks,

Geo

[imromo24]

I think i posted a while back that spng could offer a dividend in stock or cash that would cause a share count that would then leave any naked shares in the dust....im not an expert on that im just spouting what ive read...but today i did find evidence that the company has been considering a dividend since march 18...here is a link



http://globeandmail.feeds.agoracom.c...ssages/1094634

It should be noted that on March 10 we petitioned the State of Delaware to increase the "authorized" common shares to 1.5 billion from 1.25 billion. While we have no present intention to issue more shares, we acted on the advice of legal counsel to increase the authorization to provide for possible future acquisitions, shareholder dividends, or other corporate purposes.

Don't worry about the share count #'s from that message, the company is in the act of reducing O/S and A/s. O/S should be 500 million soon and A/S should be 900million soon.

In my opinion this is a very big find/confirmation that a dividend is possible. As far as what that would do is up to the pros but what i read is called MOASS, mother of all short squeezes. Now, don't take my word for this im just reading and learning (i don't even know if there are shorts on this stock, this is just what ive been reading)

[Dr. Dave]

Man I hope they don't offer a dividend, that's for blue chip stocks! (You know, the kind that trade over a dollar - lol, like Ford).

[imromo24]

this just in 5 news drops

http://www.ir-site.com/spongetech/press.asp

[imromo24]

man i hope they don't offer a dividend, that's for blue chip stocks! (you know, the kind that trade over a dollar - lol, like ford).

yes.............

[Dr. Dave]

Man what a nightmare morning... I slept in a minute too late to deal with ASFX, I wanted another chunk out first thing on any signs of downturn. Missed it... and while deciding on how much to still let go of, let my two puts ride in the wrong direction.

Bass - if you are there, I got out of JPMUH, I'd rather take some loss, trade for another day. Again, apologize for getting in that one. Most breakouts I have played have been fruitful, but I guess this was a counter-trend trade, which increases the risk, and I shouldn't have put it out there for you... gotta stick with "would you place this trade for your mom" mentality.

With the indexes so close to their key price support and resistance, I'm letting PCLN ride in hopes that tomorrow, it will follow its usual pattern of gap filling, if I should be so lucky. Next time though, need to stick with stopping out at the high of the day the trade is taken, or at least the minor trendline. That's been the key to keeping me above water, better to progressively make money.

Tough day, lost a bunch (I guess some on paper), but at least the account is up...

Oh yeah, fwiw, I see SIRI has reached its price targets right on the money for two patterns today - the descending triangle (which I'll go over entry/exit plays that some of the pros use for these if anyone is interested), and the pennant. Looks like we hit that super resistance at 0.69/0.70 <-- these two are different types of resistance, and basically at the same price. We have one pattern still in the works, I guess, its a breakout, need to zoom in on the chart - it's zoomed way out, so I need a finer view.

Talk to you folks later, heading into work.
Man I miffed my ASFX plan. I need to get off of this project I'm working on at work so I can get more sleep - I'm on about 2.5 hours of sleep at the moment... but thinking I should just go into work, and wrap it up... cost me a lot of money today.

[Dr. Dave]

yes.............

SPNG's low cracked the lower end of the pennant - I don't expect pennant formations to have all the candle wicks in them. Didn't you say they report sales, etc. tomorrow?