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Please, Shorty started printing the airshares right out of the gates yesterday, they had to tilt the sentiment in their favor. I woke up read about it, and thought the market would have moved higher, as this would be reason for the shorts to be exposed. But shorty, started selling, and created panic among the children, the weak hands. Probably a smart move on their part, except I’ll bet their short position got even larger because the strong hands didn’t sell, and most likely added to their positions.
'xDREWx' didn't someone post a message they got from SM about him saying 10q being due the 9th? I know they have 15 days, but I thought I remember someone posting a message he said about the 9th.
Oh okay, the shorts can just close a 1B+ naked short position like that? When they even start to close their naked short position this stock is going to start gapping nickles higher and they'll probably average out above $5 when all is said and done. The shorts maybe have paper profits, but those will vanish when they start to cover. Who is going to sell to the shorts at these levels besides the weak longs? The float is owned several times over, by strong hands, who are not letting the shorts out under $5. Are you as excited as me KKGD?
Well sure, they've been adding to their position by naked shorting more to drive the price down, with the goal to shake some of us longs out. Maybe on paper they are making money, but what do you think would happen to those paper profits when they go to cover their 1 Billion naked shorts? Its just paper profits for them, if they wanted to get out it won't happen anywhere near these levels. Who do you think is going to be there to sell them 1B naked shorts at these level? No one. $20 maybe they can have mine.
Trigger for when the shorts lose everything, the trigger for the short squeeze, duh
I agree, was thinking about taking a trip, checking closing price each day, and returning when the squeeze is on. Its painful to watch this everyday and really effecting my mood. I can't wait till shorty finally burns.
Me too Jim, wild ride. I bought a little at .015, then again at .007, then maxed my account when we rallied up to .025. Loaded to the gills. On these breaks it almost seems unreal the amount of money swings. I know in the end its the shorts we have to thank for days like yesterday, and I am going to have no hard feelings demanding top dollar for my shares. We should all keep days like today and yesterday in our mind, and the agony we endure, so when its our turn it doesn’t seem greedy, but rather proper compensation for what they have done to us.
SDBob09, like your picture, where is that from?
ozz I agree in a sense, I would have liked to see a penny div to us hopefully something that could ignite a short squeeze, however I trust management at spng, and feel good that they know what they are doing. Think about how much they have grown, and the things they look to and already have accomplished. We are lucky to be part of something big here, a MSFT like in its early days. I truly believe anti bacterial sponges for kitchen will be the standard in the future, we just all have to be patient. I have purchased many car washing sponges and don’t even own a car, I give them to friends and family, I just do everything on my end to help. I just ordered 5 car kits I plan to give to my doormen. MGMT have done a great job so far, lets not doubt them now. GLTY
SEC UPDATE LINK: Something I noticed a few weeks ago, was that the link to my favorites for the SEC spng updates, wasn't working, it had changed. I don't remember exact day, but it was right around the 28th when SPNG talks about the RS. I wonder if a crisp change has anything to do with that, no other time has this ever happened. Also, just reading about AIG reverse split, which took place on june 30th. There stock was down about 60 percent from that day, and it took about 5 weeks before the short squeeze in AIG started to kick in. We need to stay calm and know that we will soon get paid.
spng buyback program done, explains why ayme not holding stock up and MM's able to trash our stock?
paying a div becomes alot cheaper for company, any thoughts? Could this be news annoucned in 10k? Perhaps a dime dividened?
no, you cannot use margin to buy SPNG, i wish.
Jim, looks like spongetech is listed on two different German exchanges, xetra and Frankfurt. Spending some time looking through some of their exchange rules and what not, seeing if the german exchanges are more friendly to short squeezes, or perhaps being on a few different international exchanges might tie SEC hands behind its back if they were to try to step in and negotiate some sort of settlement with us and shorts, not something I'd like to happen. I'm starting to think this could be an important part of the puzzle.
http://www.boerse-frankfurt.de/EN/index.aspx?pageID=35&ISIN=US8491091034
interesting thanks for the link. I wonder if there is anychance this is a good thing, the VW squeeze took place on frankfurt exchange, hmmm. Although the fact SPNG has a link for german investors makes me wonder if they themselves wanted a listing there. That would jive with a theory the frankfurt exchange could possibly be used for the squeeze, or lighting the fuse.
interesting thanks. You know what I just realized, volkswagen short squeeze took place on frankfurt stock exchange. Hmmm, interesting spng has a listing there isn't it.
'Jim54' where do you get the 72k shareholders number? Also, i'm interested in learning more about this german SPNG, whats the deal with the issue traded there? Did spongetech issue stock on that exchange? Why? I have Interactive brokers, I believe i can trade it. I wonder if this was done for reasons of the squeeze. Anythoughts?
bayou man, question, what exactly is this overseas traded spongetech? Did spongetech issue shares on the german exchange? Never understood it exactly? Seems like out of the blue a few months ago they had a ticker over there. Perhaps you wouldn't mind explaining a bit about it. Thanks in advance.
'Karmasaur' I disagree, if someone did short this big, they are stupid, think about it. They added to their losing position to try to defend it, when it was clear spongetech was the real deal. Adding to losers is never a good idea. Next, I talked to Bill Young, he told me NSS was 500m+. So if SPNG gets down to 500m OS, and they are short 500 naked, its clear its not going to be gradual, its going to be big.
Also, who is selling ayme shares? I thought it was pretty clear the float was gone at this point.
WPOSullivan Ha, I know what a market maker is, I trade 15 different futures markets every day, market makers don't control the price, the market does. Who do you think has control over the soybean market, cargill or a market maker? In crude, the saudies or getco?
I must be delusional then, because I do not think the shorts have been called in yet, if they had, we would not be at these levels. They have 500m + confirmed in naked shorts, you think your going to cover that kid of size without gapping this thing nickles? Please. The situation with spongetech is even better than it was when we were at .28 cents, yet we are still below that level. AYME has been buying big, and someone is selling it to them. Whos selling? If shorts are buying, whos selling? WHO?!!!? Naked shorts are adding to their position, not covering, period. Now when you say, "doing so for the good of SPNG takes balls", are you implying that managment acting in the best interest of its shareholders takes balls? I'm pretty sure its the law. We shall see in the end, GLTY
MM's don't feed spng, sorry. You think spongetech enjoys the fact that MM's are willing to sell shares to us so low? Thats whats keeping the price down, your saying it yourself. How can you imply that MM's are good for spongetech?
'WPOSullivan' Gradual cover, NO CHANCE. The reason spongetech is not even close to fair value, despite all the buying, is because the naked shorts have continued their game of supplying the market with counterfeit shares, to continue to stay in business.. Are you serious when you said they will find a way to “gradually cover”? Shorts can be blown out, by something like a divided, merger, or something that causes a crisp change, at that point MM’s control nothing, reality does, and the reality is that this stock is worth more that $1. When that happens, the size of the naked short position will be exposed and they will be given a certain amount of time to cover, called days to cover. When this happens, shorty will not be able to keep a lid on the share price by printing air shares, so the path of least resistance will be up. We will have a wave of new buying from new investors, racing this thing up to fair value and shorty scrambling to cover his short position at the same time. Its going to be absolutely insane, 100%+ days will follow, the ideal of a gradual is not realistic. This is all in my opinion.
Why not? If the market zooms right through you, your orders will be filled and all the longs on this board will make hundreds of millions and we can finally have that SPNG party we've talked about. Just thinking about it gives me goosebumbs.
scale out, sell a little and different prices. You have to remember, once the shorts are done puking, the stock price is going to race back down to around fair value, $1-$3, so i'd suggest you pick a few numbers and scale out. You don't have to sell at all one price, i'm not.
me too, we shall see, these guys are so deep in this I think the skys the limit. Read my profile, posted a link to another squeeze, that stock traded at a price that would be equiv to spng trading over $150 a share, no joke. 25 is very possible.
if there are 25,000 shareholders, and each own 10,000 shares, thats 250m shares, wow. Now to think, what if the average is 100k per shareholder? Seems reasonable considering there are a lot of people that own alot more than that, but just consider a possible average. That would be 2.5B shares!!!! I wish I was in the room when those goofs at the SEC finally discover this, can’t even imagine their reaction. Bloodbath is right.
'rdailey4' Just looked on sec website, looks as though that is correct.
EDGAR Filer Information:
Calendar of Federal Holidays in 2009
The Federal Government will be closed in observance of the following holidays. The EDGAR system will not receive, process, or accept filings on these days. The SEC mailroom that receives paper filings will also be closed. However, EDGAR filings that have already been posted to the website will be accessible as usual.
http://sec.gov/info/edgar/fedholiday.htm
nah, only people who are going to regret 10k are going to be the people on the sidelines and the shorts, I think this 10k is going to be the match that lights the fuse to blow shorts out of the water. I think when we see OS reduced to 500m, its going to be clear their is huge NSS position. Think about it, when we have been on the REG SHO list for a month already with current share structure, how much worse is the fail to deliver problem going to be when 30 percent more shares are retired? GOOD LUCK TO THE LONGS, PAY DAY MAY BE NEAR!!!!
to send the shorts a message that we'll let them out at $25. The shorts need our shares, they broke the law, and basically we have what they need, so we are naming our price.
well was for a few seconds. sali only offer for 5%!!!!!!!!!!!!!!!!!!!!!!!!11
I'll bet 10k will be out by tuesdays open, maybe we see some wild stuff happen here on close.
I think so, I just canceled all my working sell orders. I'm sure somewhere in the contract I signed with my broker it says they are not liable for any "glitches" in the software which may result in my orders being sold out at wrong prices. This squeeze is going to take alot of people under, I expect to hear some horror stories about peoples positions being sold early, liquidated, ect, by their brokers. I hope not, but if you look at NITEs rev from last year, it was 1B, 300m in profit. How much could they caugh up if this stock went to $5, and they were on the hook for a billion shorts?
Wow scary stuff, I just reduced alot of my GTC offers in size and canceled the others, I can't imagine the stuff NITE is going to try to pull when they realize they need to cover a 1B naked short position with no float. Given IB uses them, I would not be suprised. Better safe then sorry.
Wait debbie, you had that order in GTC for several weeks, then out of the blue they modified it?
Very interesting debbie, I use IB and it also wouldn't let me go above $20, however it is scary that your orders had been modified from 50, to 20. Did it notify you at least? Or was it just changed?
didn't volkswagen make their annoucment regarding what ignited their squeeze after a 3 day weekend? late at night?
How about this, "The 10k has been delayed because we have some math problems, we run the numbers over and over again, but we keep coming to the same conclusion, we purchased more shares back then available from float. Bare with us while we do the math a couple more times because this just can't be!!!!"
Soapy you think these big AH trades we've seen the last 2 weeks are AYME? I get the feeling they report it AH as to mask the big buying demand. Say you sold 5m and the price didn't budge, it would signal a very strong market to others, information which would be best both for the seller and buyer, if it wasn't disclosed at that moment. Others might start buying and racing the bid, so it would be best for the buyer who clearly has a buying interest and doesn't want others to race him, as well as the seller who just shorted 5m and doesn't want it running against him. Not sure, just seems like we've been seeing some huge AH trades last few weeks and not sure why.