Market Watch for Week of 8/24/2009

[imromo24]

You cant tease us like that Romo. Whats going to happen in October?

the current spng price is based on $40MM last year, the run is because they said they actually made over $50MM...however, in the 1st Quarter alone they already have $55MM in orders...extrapolate that into 2010...I even low balled it to $150MM for 2010...

Also, depending on the spng share buyback results, we may see another or bigger sharebuyback...

its no secret, its right here....www.spongetechinc.com

this tells the rest of the story http://www.spongetechinc.com/company_profile/highlights

[notwal]

An annual report was released by pinksheets for BCLE today. My experience with digesting these types of things is subpar so please share opinions. Hope its good...

http://www.pinksheets.com/otciq/ajax...d.pdf?id=23732

[thetree]

Looks like on april 30th they had a float of 27MM and on July 31st it almost doubled to 49MM? Am i reading that right?
Wow they made 127K this year? Bass's poker winnings were more than that! Total expenses 1.2MM?

Sorry to post the bad bits. I was just skimming for the big numbers.

[imromo24]

looks like they have a lot more shares outstanding than it says on TD which means bad ....

and i don't see much income and i read something about raising more capital through equity sales or something...isn't that issuing more shares?

All sounds bad and I didn't care for their product, it was green liquid in a plastic bottle..only reason I had them in the first place was that they were veterans and had some military connections, which i guess could be expoited at anytime...

but i don't know how to read those things so don't take my word for it...

[thetree]

By the way ROMO, good call yesterday on SPNG raising another 15% today. My watchlist says 15.19% !!!

[Dr. Dave]

Dr. Dave...can you post a chart for QASP reflecting today's action?

First is daily - have a couple things - looks like a pennant formation busted out, has right volume characteristics, etc. Little scare a couple days ago, but it was minor. Good break out, excitement in the air. We also have two sets of fib lines overlapping at 0.18, so that may be a place that it could be broken down to on a retractment, and a line in the sand we want to hold. Next resistance is 0.20, also double power, since its a round number, and close to a fib line. On average (and using an integer) the runs have been 4 days. Indicators I don't worry about too much, haven't fiddled with them enough to get something down for the pennies.



On the 60 min, you can see some decent buying volume... and a healthy 9/39 EMA cross, for what it's worth for the pennies, but most notably, the aroon cross is one of the strongest I've seen... the cross occurred almost at 100, not that I know what it truly means, but a guy I follow likes the cross to be above 70 for a strong move. Last candle is very bullish.

[Dr. Dave]

here's the weekly...
If we bust to new highs at some point, that's really good - but lets not get ahead of ourselves and all crazy. But, any stock hitting new all-time highs is a good thing.. that's one of the things I look for when playing the chartgame - a new high, then I buy. Example, one of the guys I followed suggested SWI back at the end of June... its on the big boards, and after it hit 15.5 and had a pullback, its been doing well.



looks like those red resistance lines moved when the scaling changed... but you know where they should be.

[imromo24]

By the way ROMO, good call yesterday on SPNG raising another 15% today. My watchlist says 15.19% !!!

thanks, im not going to press my luck and call tomorrow...imo some kind of news has to be dropped to push it to .22, the momentum makes it seem .20 will be taken quick tomorrow, however...

I think its possible that the eps could be .02 come monday...that could make a value of .24 to .28, can it run up that high before the announcement? Dunno..I didn't think we'd hit .18 and here we are at .19...

.24 is coming that would be .05 or 26% up from here (soon, within a few days, maybe next wednesday)

thats been my plan the whole time its just happening faster than i expected...but think of it this way, its actually happening slowly, just a few cents at a time, no gigantic spike .10 to .20 cents at a time, so this has some support, building a base as it goes up, giving some protection to investors, imo....

all throughout the day there were opportunities to get in, I had a buy at .1753 put in after it hit .185 wouldn't you know after hitting .1899 it worked its way back there (albeit very fast on very little volume, another good sign)

I think there is still a breakout coming taking it to .28 and possibly .35 but it would be fast and uncontrolled and probably come back down to .22 to rest

either way...up from .1919 between tomorrow and next tuesday

nice thing is .24 is my value of the stock based on fundamentals, so momentum and 2010 forecasts could take it higher, very soon (next week)

[GoHerdGreg]

Looks like on april 30th they had a float of 27MM and on July 31st it almost doubled to 49MM? Am i reading that right?
Wow they made 127K this year? Bass's poker winnings were more than that! Total expenses 1.2MM?

Sorry to post the bad bits. I was just skimming for the big numbers.

I'm most likely out of BCLE on Thursday, then. I'll take the loss and take the funds and put them in SPNG or get more QASP during the clearance sale.

30mm float (when I bought in)= GOOD
49mm float (today) = BAD

Gone, gone, gone.

Edit: Time to mix another Paloma (Cuervo Gold, Fresca, 1/2 lime, pinch of salt, enjoy.)

[billhart22]

Notwal,

Yes, they have been diluting (from what I read), not to extremes, because their float is so small, but it is still significant for its size. Shipley hasn't answered my email yet. I need to have a discussion with him and find out the absolute truth about what is going on. They own several businesses or portions of them, so I want him to sort it out for me as to what the real bottom line is.