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

[just sirius]

Spongetech new products


SpongeTech® Delivery Systems, Inc. New Tailgate Sponge for Outdoor Fun!!

The Smarter Football SpongeTM by SpongeTech®


Press Release
Source: SpongeTech® Delivery Systems, Inc.
On Wednesday September 30, 2009, 1:15 pm EDT
Buzz up! 0 Print.Companies:SpongeTech Delivery Systems, Inc.
NEW YORK--(BUSINESS WIRE)--SpongeTech® Delivery Systems, Inc. ("SpongeTech") “The Smarter Sponge™”, (OTCBB: SPNGE - News) is pleased to announce a new addition to the SpongeTech sponge-line, “The Smarter Football SpongeTM”, a new Football shaped sponge for adults, teens, kids and everyone in between! This new product is perfect for outdoors, tailgate parties, parks and for backyard fun. The sponges will initially be available in a poly pak. Each Smarter Football Sponge contains an ultra gentle soap formulation that lasts over and over again - perfect for all season long. Order The Smarter Football Sponge now! The Company will be taking pre-orders online at http://www.spongetechs.com/ProductDe...ctCode=W490000.

[just sirius]

And This One


SpongeTech® Delivery Systems, Inc. New Sea Foam BuddiesTM Children's Bath Sponges!!

SpongeTech® Sea Foam BuddiesTM - Be the First to Swim with Them!


Press Release
Source: SpongeTech® Delivery Systems, Inc.
On Wednesday September 30, 2009, 2:45 pm EDT
Buzz up! 0 Print.Companies:SpongeTech Delivery Systems, Inc.
NEW YORK--(BUSINESS WIRE)--SpongeTech® Delivery Systems, Inc. ("SpongeTech") “The Smarter Sponge™”, (OTCBB: SPNGE - News) is pleased to announce a new addition to the SpongeTech’s children line of bath sponges, “Sea Foam BuddiesTM”. With Sea Foam Buddies, bath time is like a day at the beach! The sponges will be available in a two (2) pack and a three (3) pack. Sea Foam Buddies are the most convenient and a fun way to take a bath, NO bars of soap or wash cloths, just add water! Each buddy contains an ultra gentle soap formulation that lasts over and over again - perfect for the young and young at heart. Be the first to swim with Sea Foam Buddies by SpongeTech. Sea Foam Buddies to be swimming in soon! The Company will be taking pre-orders online at: http://www.spongetechs.com/ProductDe...ctCode=W400092.

[Dr. Dave]

Margin accounts and Day trading accounts are two different things (though I believe you must have a margin account to have a day trading account).

All of my non-IRA accounts are margin accounts except maybe for one that I've had since the dawn of time (I've never had 25K in any of them), I don't have a day trading account (in fact, I don't even think there is an actual "day trading account" at some brokerages) - it's just a 25K restriction for making 4 or more daily round trip buy/sells in a week (counted as 5 days, since trading doesn't occur on sat/sun). If you do 4 or more daily (key word here is daily, you can buy on tuesday, sell on wednesday and that won't count) then if you have 25K no problem, if you have less than your account will be frozen. This part is a law, so you can find the definition at investopedia. Usually, with a 25K+"day trading account" - they will give you more margin, than if you don't have the account.

Margin account minimums may vary between brokers (I don't believe there is a law for this), but whenever I open a new account (I've tried more brokers than I feel like counting up), I always open with close to the minimum and see if I like it, and always sign up for a margin account).

*where I say "I believe or I think", I'm not 100% sure.

In the meantime then, if you don't have 25K in your account... grab a calendar and just track how many times you buy and sell the same stock within the same day, and you won't get in trouble if you don't go over the number. Go to investopedia, or your brokers site and make sure the number is 3 or 4 times. The first time you go over, you may be able to call them and say you were ignorant, and get the freeze lifted.

In the meantime, be careful with the day trading, don't get whipsawed all over the place. If you don't have margin just remember, you'll have to wait for the settlement to take into effect.

Day trading, pattern trading, speculative trading, fundamental trading, swing trading are all different, so take the time to read up on them.

Those wanting to learn some TA, spend the $50 and buy john murphy's book.
http://stockcharts.stores.yahoo.net/teanoffimajo.html

Look for trading books used on amazon, half dot com, ebay.

[Dr. Dave]

Hey, 85 cents is LARGE in this arena, lol. I am just going to ride this one out for a while. It has big dividends attached to it. I have to call the IR dept and find out the cutoff date for eligibility. See, I have owned it 10 minutes and I am all ready trying to pickpocket the bastard's wallet!

Going blue-chips again? Be careful, the DOW is getting a little oversold.

[stang3O2]

Thanks Stang

BTW who do you have your margin acct with?

I have margin accounts with TDA and Scottrade but I can only day trade with my TDA account, and there is nothing you need to sign or anything you just need to have $25k in the account to day trade, and I would imagine you would have to have a margin on the account (but not positive). TDA gives me 4x margin on my account meaning if i had $25k cash in the account i would have $100k buying power for day trades, but I refuse to use it cause you can lose your account quickly on a bad day. From what I have found most brokers require $2000 for margin but some do require more, I know Fidelity requires $5k.

[Dr. Dave]

I've mentioned JetBlue Airlines before. Here is why I like it.

They own airplanes, they have customers, and they have modern aircraft that use less fuel than the competition. So, if the stock tanks for awhile, it always comes back.

And it's a great day trade.

For example today's low was 5.73 and the high is 5.99

That's a very nice range to trade in and if you get stuck on a high note for a few days it's no worry because you actually own a real airline.

Just food for thought.

What's jet blue's ticker. Still didn't get into gold yet, woke up just in time to shave a little more off of ASFX before it reversed.

[Dr. Dave]

For Doc Dave and any other gold diggers:

GSS Golden Star Resources Ltd

A wise man picked this stock and I'm just passing it on. They have struck gold in their mines and have the potential for a whole lot more gold so it looks good in my book as a steady gainer.


Company Background

Golden Star Resources Ltd. (Golden Star) is an international gold mining and exploration company that produces gold in Ghana, West Africa. Through its subsidiaries, it owns a controlling interest in four significant gold properties in southern Ghana: The Bogoso/Prestea property, Wassa property, Prestea Underground property and Hwini-Butre and Benso concessions (HBB Properties). At December 31, 2008, Bogoso/Prestea and Wassa produced and sold 126,026 and 125,427 ounces of gold, respectively. Bogoso/Prestea had proved and probable mineral reserves of 23.8 million tons containing approximately 2.4 million ounces of gold. Wassa, including the HBB properties, had proved and probable mineral reserves of 11.7 million tons containing approximately 0.9 million ounces of gold.

Solid rise since they struck that gold.

Thanks for the heads up!, I'll check out the chart - I'm looking to split into 2 gold stocks.

[Dr. Dave]

Inquiring minds want to know ...

Via the shrub;

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Posted by: cytis Date: Wednesday, September 30, 2009 3:16:54 PM
In reply to: bbgirl who wrote msg# 34055 Post # of 34070

I think you may have caught the train just as its leaving the station bbgirl! somehow this thing stayed docked even after the buyback announced and until all filings were in- rumor wasnt enough to get it moving, but the obvious retention of a 15mm credit facility in this economy, Deutche getting on board clearly with DBAB MM L2 appearance after Deutche was announced as the bank, and Deans SEC filings have given this one so much real credit - it wont hit the moon until acquisitions are verified complete but we should move well now. congrats on great timing/luck!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Interesting ... Can anyone confirm this on L2? Went and checked out DBAB -
https://www.alexbrown.db.com/Connect...Site/index.jsp

Bill, you still in?

You guy's know your limitations and strategies, I just had to throw my two bit's out there earlier.

Dr. Dave if you are around ... Just received the Schwager book (Market Wizards) at the ridiculous price of 3 bucks (used) ... Looking forward to devouring it, thanks again for the heads up.

I think Market Wizards is the first one, haven't read that one yet, is it the one with O'Neil and Raschke as some of the folks interviewed. I'm about to buy that one, found it cheap also. The one I read was the lastest one, which I also found way cheaper than the full-price I paid for it... though, full-price was worth it. He needs to name them a little more differently, as the second and third books are so similar... like Stock market wizards, and stock market trading wizards or something like that.

I also ordered one of ari kiev's books that I found cheap on trading to win... more on psychology. Need to find some decent money management books. I think if you can cover fundamentals, technicals, psychology and money management, then you should be good.

[Dr. Dave]

Spongetech new products


SpongeTech® Delivery Systems, Inc. New Tailgate Sponge for Outdoor Fun!!

The Smarter Football SpongeTM by SpongeTech®


Press Release
Source: SpongeTech® Delivery Systems, Inc.
On Wednesday September 30, 2009, 1:15 pm EDT
Buzz up! 0 Print.Companies:SpongeTech Delivery Systems, Inc.
NEW YORK--(BUSINESS WIRE)--SpongeTech® Delivery Systems, Inc. ("SpongeTech") “The Smarter Sponge™”, (OTCBB: SPNGE - News) is pleased to announce a new addition to the SpongeTech sponge-line, “The Smarter Football SpongeTM”, a new Football shaped sponge for adults, teens, kids and everyone in between! This new product is perfect for outdoors, tailgate parties, parks and for backyard fun. The sponges will initially be available in a poly pak. Each Smarter Football Sponge contains an ultra gentle soap formulation that lasts over and over again - perfect for all season long. Order The Smarter Football Sponge now! The Company will be taking pre-orders online at http://www.spongetechs.com/ProductDe...ctCode=W490000.

Man, if they could get NFL logo's on those things, then there would be real excitement in the air.

[Dr. Dave]

You folks were some real chatty Kathy's today... took me a while to catch up.