Market Watch for 9/28/2009 (Week of)

[Ramsey]

What I *think* is that the foundation is being formed for something that is well above my pay-grade -- I really couldn't say either way.

Which IS the reason that I'm not touching any shares that were purchased before May 11, 09.


It would appear that Malone would be the guy to buy --- and he doesn't appear to be in any hurry. And really, why should he? He has 40% of the company and options at $0.35!**

**it's either his options at .35 or Mel's @ .35 - one of them is at .35 and the other is @ .43.

The other part of the stock equation is that Malone has - in the past - used clearinghouses to accumulate shares.

In any case, Malone's going to make a cargo ship full of cash off of the dog.



***

I'd also mention that there are any number of affiliated companies (and individuals) that can & will come into play - as we follow this mini-series.

***

Want to have some real fun? Create your favorite beverage - strike that, make two vessels of your favorite beverage, a sandwich (substitutions are okay), and go to www.theyrule.net -- it may take you a moment to get the hang of it...but once you 'get it', you're in for a real *treat*.

***

Ultimately, if you have discretionary cash just laying around earning .0001% interest, I'd just as soon put it in the Bank O' Mel. Leave the pre-may shares along and just pick up some more -- with current pricing, you'll still make a tidy profit...especially with the fluffers that'll be coming out of the woodwork.


**


Ramsey

So Mr. Decorum...

Do you still think a buyout is possible?

[Dr. Dave]

Dave et al-

I just noticed that that white candle is the strongest candle in the last 32 days on ASFX. Check it out if you get a chance.

good point - and with the "shaved head" - I'm pretty confident of some upside tomorrow.

I wonder if arnold signed the bill, and the news hasn't been reported.

[SiriMonkey]

How'm I doin' so far, Julie?

One thing that's for certain, it's a lot more fun to do it *your* way...


You seem to be 'okay' for a northerner...

Ramsey

PS: I finished h.s. in Ohio --- I was always amused by the OH/MI (Oh, my...) rivalry.

Your doing an awesome job Ramsey! You seem okay for a Californian or whatever you call yourselves out there. I can't figure out why you would leave Ohio to go to California though. What does California have that Ohio doesn't?

Julie
P.S. I agree, doing it my way is a lot more fun.

[just sirius]

Picked this up on the other blog on SPNGE

If true...very good news!



Posted by: penniesguy Date: Monday, September 28, 2009 6:00:37 PM
In reply to: None Post # of 218907 [Send a link via email]
Has anyone seen this from Google blogs?

Posted by EricG, Sep 28, 1:49pm

I did ask about the A/S shares of 3 billion. Here is what they
answered: We would like to thank you as a shareholder of SPNGE.OB. To
answer your question regarding the increase in the A/S. The increase
is due to the previous announcement of the 1:100 R/S. When SPNGE "the
company" proceeds with the R/S plans, the A/S will reflect the split
accordingly, so shareholders will not see the shares actually
increasing as authorized. The O/S shares still stands the same as the
end of the previous fiscal year according to our most recent
information.

I asked them about the SEC investigation, and that's their answer. We
appreciate clearing any doubts you might have as a SPNGE.OB
shareholder. The company restated the facts regarding their business
operations on 09/25/2009. We can't comment in details regarding the
nature of the SEC filling, but since SPNGE.OB "the company" is a SEC
reporting company, it is required to disclose any formal request it
might receive from the SEC on its behalf or on behalf of any of its
business affiliates. The nature of the SEC filling is arising due to
the company's previous accounting firm's troubles with the PCAOB. When
the re-audited schedule 10-K will be released within few days, it will
officially state and shed more lights on SPNGE.OB "the company"
financial achievements. We appreciate your concern and look forward to
assisting you again at a later time.

[just sirius]

Bill/Dr D

What's your exit stratedy on QASP...now that the buy back is moving forward...coupled with the possible acquistions of another 2 companies!

I'm thinking selling half at .04 or .05...and placing structured sells every .05! Would love to hold longterm...since mglg/bcle/spnge are currently circling the drain...need to get some cash back!

[billhart22]

Bill/Dr D

What's your exit stratedy on QASP...now that the buy back is moving forward...coupled with the possible acquistions of another 2 companies!

I'm thinking selling half at .04 or .05...and placing structured sells every .05! Would love to hold longterm...since mglg/bcle/spnge are currently circling the drain...need to get some cash back!

Jeff,

I love that "Circling the drain" comment. I know that Tib and Ramsey will to. We are connoisseurs of fine expressions and verbiage. I may have to borrow that from time to time with your permission.

As far as QASP goes.....I believe that is a fine plan. The thing I would watch is that if it takes off (I mean..when it takes off), it may fly past 5..so with that in mind, I would keep an eye on the velocity of sales and then margin from there. In other words, when sales slow down, but there is either a whole bunch of volume and the stock isn't moving or has just slowed down and not going anywhere, I would sell.

Then I would mark in .05 increments. So what I am saying is that if things slow down velocity wise at .08, then sell half there and then take the next bunch at .13 or something like that. Keep an eye open though as to not lose any of it, including house money, because it is yours now.

If that made any sense...please raise your hand!

[billhart22]

good point - and with the "shaved head" - I'm pretty confident of some upside tomorrow.

I wonder if arnold signed the bill, and the news hasn't been reported.

Ya, the shaved head gives it a little validity. Good eye. As far as the Elliot Wave issue, (clearing throat, lol), I know that. You cannot predict where the points will land. They are strictly wave structure. I could use a little explanation on how you use that with velocity though. I can tell that I need a little mini lesson on the subject....when you get time...no rush....I guess it is time to learn a little more..

[billhart22]

Bill/Dr D

What's your exit stratedy on QASP...now that the buy back is moving forward...coupled with the possible acquistions of another 2 companies!

I'm thinking selling half at .04 or .05...and placing structured sells every .05! Would love to hold longterm...since mglg/bcle/spnge are currently circling the drain...need to get some cash back!

Actually, I just gave you my exit strategy in the last post. I didn't fully read..I apologize. By the way - I am loving your Signature!

By the way, I picked the Bastards' pockets today...not for much, but got their light change.

[just sirius]

Actually, I just gave you my exit strategy in the last post. I didn't fully read..I apologize. By the way - I am loving your Signature!

By the way, I picked the Bastards' pockets today...not for much, but got their light change.

Great Job...can you spare a brother a qtr!

thanks for the long winded exit strategy...I think I'll ride the 1st wave up...sell 1/2 at .055...rest is house money!

After being down by almost 45k with Siri earlier this year...being down in mglg, bcle, and spng...calm like a grasshopper!

[billhart22]

Great Job...can you spare a brother a qtr!

thanks for the long winded exit strategy...I think I'll ride the 1st wave up...sell 1/2 at .055...rest is house money!

After being down by almost 45k with Siri earlier this year...being down in mglg, bcle, and spng...calm like a grasshopper!

Compared to 45K, these pennies are chump change.


I am going to find a stock for tomorrow. ASFX is looking tempting, but I will wait for a pullback, provided that ever happens. I am fishing. I will let everybody know what I come up with, if anything.