Market Watch for week of 9/13/09

[bassmaster]

there is some strong buying here in the high .02's...its definitely a good feeling to see a base building at this level.

[imromo24]

It's looking like getting in this morning at under .08 was a good move. I haven't made many of those lately, so this is feeling very good!

nice

I put in a limit (day) order for SPNGE at $0.06, just to see if this is a headfake like Romo alluded to. It's kinda' like fishing for catfish; you just put nasty stuff on the bottom and see what bites.

If that doesn't fill...then I'll see what's shaking at 3:30pm and try to get a buy in then.

yeah, let it sit, someone mentioned on google that it was a short covering that was running it up a little before they bring it back down, that sounds likely.. if there really is a large NSS that would make sense, and the NSS are out of themoney at .09.

spng will probably gap down on monday and run up again like today, so have an early morning buy in for the same 25% if today doesn't fill...(don't forget when i say this i don't have a crystal ball or a time machine, just figuring on what it seems like)

[candleman]

i dont like your sell at .032...if we break .03 , .034 is a very easy target (from the gap down). there is extremeley strong resistance at .03...only my opinion but play your game bro.

Bass, do you see that on a chart? Is there some fundemental that I'm missing? I don't study the charts very well, just the gut feelings that quide me. I'm going to pull the .032 off the table and just let this ride a little while.

[bassmaster]

Bass, do you see that on a chart? Is there some fundemental that I'm missing? I don't study the charts very well, just the gut feelings that quide me. I'm going to pull the .032 off the table and just let this ride a little while.

there was a gap down on the price because of the PR that said the company dilluted. yes its on the chart around august 23 i think. it closed at .035 , the PR came out then it opened at .029(it hit .03 during the day)... so my point is if you dont sell at .03 which is our current resistance (and very strong) then you have an excellent shot at .034 (.035 is the next resistance level) as opposed to selling at .032....but if .002 extra is not a big deal then my opinion shouldnt matter in the least. ok, alot of rambling but please reply to me that you understood what i wrote.

[bassmaster]

my point is if you dont have a sell target at .029/.03 now , then the next resistance level is .035 (.034 sell should go through).

[imromo24]

it helps to see updates to things, check out the spng website. they added some football pictures and tennis section

http://www.spongetechinc.com/marketing/spongelove

[bassmaster]

fundamentally i think sell targets are just below resistance and buy targets are above resistance (if it should hold and turn into support).

[bassmaster]

candle, that is why i sold at 28 and 284. its a couple of ticks below resistance.

[candleman]

my point is if you dont have a sell target at .029/.03 now , then the next resistance level is .035 (.034 sell should go through).

Thanks Bass, I hear you loud and clear.

I have a small problem with being happy with 25% or better profit. I forget that if I hold on, someday there may be a better pay off. So, it comes in real handy when there is someone around to give me a head slap every now and then and remind me to hold for a bit better profit....

[bassmaster]

Thanks Bass, I hear you loud and clear.

I have a small problem with being happy with 25% or better profit. I forget that if I hold on, someday there may be a better pay off. So, it comes in real handy when there is someone around to give me a head slap every now and then and remind me to hold for a bit better profit....

or less profit.....you have the option to sell here just below the current resistance at .03. breaking 3 is gonna be tough we kissed it today and dropped .. please be advised i am not recommending you to hold for .034, i am only recommending you to change your sell to .034 IF you are not willing to scalp here in the high .02's. that is all. GL