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Thanks..
It sure does look like we have bottomed. Have we turned yet though, that is the question? To me, it does look like sellers are about dried up at .0011. Now is the quiet period. Buyers are still looking for lower prices and sellers are looking for higher prices. Who will win? Eventually, I think we will. This may sit stagnant for a period, resting due to energy being sucked out from falling prices. But, once buyers are convinced selling has subsided, they will start moving in. When that happens is only a guess. It may happen on its own or it may take a news event or financials to start the buying. That said, once the buying starts, it should move up nicely due to many sellers having cashed it in already.
Looking at a two month chart is interesting. We had our golden cross a few days ago. When that happens, often-times there is a decline in prices or a delay in the uptrend. In other words, the golden cross some times comes at a point of consolidation but will eventually have an effect on the stock because the 50 day has turned up which does indicate a change in trend to the upside. It started turning up mid Dec. as you can see on the two month chart and has continued up, see link.
The stock seems to be trapped at the 50 day, sitting on the 200 day support. It needs to break through and close above the 50 day to start moving up again. Hopefully when it does so, it does so with higher volume.
Also, we are at a .618 fib. retracement which tends to be strong support after a big run like this stock has had. What many probably fail to realize is the fact that this stock had a run of 900% starting at .003 and ending at .027. Now, $SPOM has pulled back and is consolidating at the 400% level. The start at .003 x 400% = .012. It's simple math. This run was done in about a month, so consolidation here is normal.
Again, looking at the chart is interesting. Look at the bottom of the chart. Look at CCI and Stochastics. There is a slight divergence in those indicators. The stock has not started moving off the bottom yet. It closed yesterday at .0112 the lowest close in this retracement cycle yet the chart indicators I pointed out have started turning up. What does it mean? Perhaps nothing, but I have seen this many times and usually it means the stock is about to turn back up. We had a Dogi two days ago and a spinning top yesterday. Both those candles usually indicate indecision and or reversal.
http://stockcharts.com/h-sc/ui?s=SPOM&p=D&yr=0&mn=2&dy=0&id=p01308601529
All we need is buyers. Got any, LOL..
They'll eventually come.
$SPOM They just won't give us any breaks. Down 4 days in a row. Time for a green day. Bring it on!~ $SPOM
$SPOM Can't argue with any part of that post. Lets get this moving soon. $SPOM
Luck to you..
shareholders can do there part too though
$SPOM lucasharp, you are a great DD asset to this board, no question about that and I appreciate everything you do. But, IMO, it doesn't do any good to pump a non-moving stock on other boards. People like MOMO and will not buy any stock going down or sitting flat. I have tried spreading the word about $SPOM on other boards to no avail. We need news and it seems, nothing else will help. $SPOM
We need some news to get volume
$SPOM Exactly, news of sales, new product launch update or news of new retail locations would help immensely.
It really wouldn't take much up-volume to rocket this low floater. 2-3 million and we are over 3 cents, especially with so many bailing lately which stops them from selling later. $SPOM
As I see it, the problem isn't the sell side, the problem is no volume on the buy side. We know we have a company here with a great product already marketed and more to come. This is a real company with real revenues and audited financials. Too bad it is so little known which is partly the company's fault for lack of a good PR program. We should all email the company urging them to open a better communication system with its current and future share holders.
mbraunold@spoglobal.com
You could be right. We could see an additional 4m shares. But, I don't think they will short, just convert and sell. I cannot PM.
I doubt it, why would he be shorting? M&M's are way smarter that the average trader, they work with other M&M's at times, they have level 3 and they don't short at the bottom. How much sense would that make?
Dilution would make more sense, but volume is too low for dilution. We have no reason to believe the company is diluting. They haven't been according to the latest filings. So, what's the answer, it has to be a big seller, or sellers.
Some were suggesting Nite was up to no good recently. These M&M's represent different brokerages and place orders for them. They only need to naked short (create shares out of thin air) when the up volume or buying demand out-strips sell volume. They must maintain an orderly market and fill demand for long shares even when there are no sellers. When M&M's do naked short, that does not drive the stock down, it adds to the rally by filling longs orders which causes the bid to rise.
As far as normal shorting of penny stocks, it can be done. Interactive brokers allows you to short penny stocks. But, the initial cost is very expensive, around $2 a share to short plus whatever the stock is trading for and you pay interest on the margin transaction. The $2 fee returned after you cover. Not too many people short penny's.
Seems like a no brainer to me! Low float. Actual product. Distribution
$SPOM Exactly, welcome aboard. Don't forget about audited financials and new product releases coming soon. Please tell your friends.
Where did you hear about $SPOM?
$SPOM Buy volume over 400K and sell volume under 200K. $SPOM
http://ih.advfn.com/p.php?pid=trades&symbol=SPOM
$SPOM I see a dime also once audited financials and new products hit the market. $SPOM
Only 65,000 brought us down from the .0125 high. Should revisit that high again today is my guess. Perhaps higher. Looks to me we have bottom and turned. Rest of this week will be interesting.
$SPOM
Looks like support building at .011+. Could we have seen bottom and turn? With strong chart and Fib. support at .011/.0113, perhaps we have. I'm thinking, up from here. Cup with handle pattern on both the daily and weekly charts.
You called it, you were right.
For all the sellers of $SPOM out there, remember, most of the time you will sell at or near the bottom and later curse yourself as the stock bottoms and turns. It has happened to me many times over the years. What I have found though, eventually value and price will converge. Since I started holding value instead of selling, my success rate has skyrocketed. What you end up doing is spending a little more time instead of spending or losing your money. Everything about this company has been confirmed, there's no scam here.
Will be interesting to see if .011 holds. It is significant support. .0113 is a .618 Fib. retracement, .011 is also the 200 day MA on the daily chart and the 50 week MA on the weekly chart. Both charts look like a cup with handle pattern is forming. See chart links:
http://stockcharts.com/h-sc/ui?s=SPOM&p=D&b=5&g=0&id=p50561301075
http://stockcharts.com/h-sc/ui?s=SPOM&p=W&b=5&g=0&id=p45947075838
Hey surfkast, how ya doing? Long time. If you do some DD on this one you will see the value. The company has real products selling nation-wide in CVS stores and online at Amazon etc. New products coming out and great share structure with 56 mil outstanding and a hundred mil authorized. This company has audited financials. No pump so no dilution. The stock is not well known is a big part of the problem. Do some DD and you will see.
Luck to ya..
.0113 is a .618 pullback from the high of .027. We should be close to a bottom. Would be nice to see some news from this company. That said, we all know the value is much higher than where we are trading. Patience is hard, but it's the only choice at this point.
Thanks, I just resent the email using your address supplied. They are 8 hours ahead of me time wise so I I don't expect any response yet today. Will let the board know If I do get a response.
That's why I emailed him, I'm a little confused about that.
Below is the email I sent on Friday and yet to get a response.
Hello Mr. Braunold,
I recently purchased 400,000 shares of your stock, (SPOM). I was wondering if the next 10Q will be released around Feb. 14th, following the recent pattern of three month intervals between said documents?
I know info not already released publically is privileged, but I was just wondering if sales are still doing well since the original CVS stores order? Also, just wondering if you would care to comment on the recent share price of .015 and where you think fair value may lie? Anything else you can share would be appreciated considering I am a new share holder.
Sincerely,
XXX
What address are you using? I sent mine through their web site.
Who here has emailed the company? I have sent two and have not gotten any answers. The first I sent as a non share holder and stated so. That could be the reason for no answer on that one. I sent one on Friday and stated I owned 400K shares. No answer as yet.
How long does it usually take, anyone?
alright just fill VERT already and get it over with....
Got your wish, now the .013 support is trashed. (Not saying it's your fault)
Will be interesting to see how low it will go. This is why I never average down. I honestly do believe we will see a lot higher prices at some point. Real company, real products, just a matter of time. How much time is the question.
In doing the Fibs., the run started at .0016 and ended at .027. That's a run of .0254. That number times .618 = .0157. Subtract that from .027 and that leaves .0113 as our .0618 Fib. pullback number on much lighter volume. It's not a bad thing here yet.
You about nailed it.
$4500 worth of shares on the ask is enough to impede volume and inhibits momentum players jumping in unfortunately.
As I said, everyone has their opinion. You could be right about your above statement, but that's not the point I have been stressing. The point is; there is just not enough volume or interest to move this stock up. It's just that simple, it doesn't matter what the ask side shows, problem is, no volume, no interest. Company needs to talk to us more to spur interest. When they have something to say i'm sure we'll hear from them. Until then, what you see is what you get.
Would that 300K be holding it down on a high volume day like say 2 million? We need buyers, there will always be sellers. I doubt it's anyone trying to manipulate, just someone wanting out that's tired of waiting.
All stocks move up and down. This one is in a channel between .0131 to .019 it seems. The longer this lasts, the more sellers we eradicate, the more explosive the next move up will be when it finally does run because those sellers will be gone. I can wait.
clearly trying to keep it down
I don't see it that way. Problem is, volume is way too low. There are no buyers to bid this up. Everyone has their thoughts and opinions on how the market works, but we need fresh buyers or demand to move the bid up. There aren't that many sellers left, just no buyers. I see 85,000 shares traded so far, that's a drop in the bucket. When volume is this low, anything can happen but usually the stock will move down and not up.
It order to move this up, we need news of increasing sales or some thing that will move the market. Eventually it will come. I'm hoping the next earnings release about mid Feb. will show us some movement. Till then, I'm not holding my breath.
Finished flat at .015 two weeks in a row.
She? Care to expand?
Don't be starting any rumors now, LOL..
It's hard to say. Usually M&M's will work together to lower price after a recent run in order to cover their naked shorts. But, one can never know what's happening for sure behind closed doors. M&M's trade behind closed doors with security that comes close to that of important diplomats according to an ex M&M I knew before his death. Information is highly guarded due to the insane amount of money that changes hands on a daily basis.
Think about this, I have seen interviews with almost all of the markets most important players over the years. But I have never seen an interview with an active M&M or yet to see the inside of their fortress.
$SPOM in the mean time grab as many as u can
I have a rule about not averaging down, it has saved me countless thousands of dollars. I sit with 400K shares at .021 and am willing to hold as long as it takes. I have done my DD and like what I see.
Often-times, undervalued stocks channel for long periods of time. Eventually, value and price will come together in harmony. Patience is a virtue and money maker. I had to learn that the hard way.
Good news is coming and that news will rocket the stock. Real company, great share structure and growing sales. What's not to like?
One thing is for sure in my mind, people will at some point, complain that they should have bought more at these prices.
I didn't think this would run this week. As a matter of opinion, this may just meander in its current channel until the next 10Q is released which should be about or around the 15th of Feb. Unless killer news is released, I don't see any other catalyst.
Opinions?
195K hit, we're flushing out some sellers today. Will run next week, IMO.
SPOM, medical equipment company. Products on CVS store shelves and more to be released in 2013/2014. Low outstanding, 56 million and 100 mil authorized. Absolutely no dilution for this real company.
Golden cross today. Chart is primed, ready to breakout from bull flag and cup with handle pattern. Run coming soon, don't miss out.
http://stockcharts.com/h-sc/ui?s=SPOM&p=D&b=5&g=0&id=p95863348554
SPOM Golden cross today. Chart is primed, ready to breakout from bull flag and cup with handle pattern. Run coming soon.
http://stockcharts.com/h-sc/ui?s=SPOM&p=D&b=5&g=0&id=p95863348554