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Cool, catch anything?
More from Alfie:
The shorts are extremely skilled at manipulating the system, which has historically been heavily slanted in their favor, without enforcement or pressure for them to follow the rules. The MM's love the order flow in a stock such as this and so they are very reluctant to shut down the shena@#$%ns that they know are happening out there with the shorts.
And so embedded short positions are moved back and forth to keep them alive until such time as they either fail or propser with finality.
In this particular case everyone knows, including the shorts themselves, that there is no good way out for them and so they are merely trying to "keep hope alive" to coin a phrase, until such time as they have no other choice but to unwind the position as best they can.
Unfortunately for them and also for the MM's who have helped them perpetuate this illegal scheme, their position has gotten so very large that there is just no practical way for them to accomplish this and so when it does eventually occur, there is going to be a very large surprise awaiting them.
For any of you selling, make them pay top price. It is my opinion that the cover is going on and when they have bought all they can buy on the cheap, they will raise their bids.
Normally, yes dumar, but when the world is told that a stock has a huge short position and lists the MM's involved, it would be the Brokerages that would start forcing the shorts to cover, imo. They are not going to want this kind of publicity. It's one thing for posters to talk about a short position on a message board, quite another for it to run across the newswire.
The only thing that would have been better is if they had listed all the Broker Dealers who are complicit in creating this short position. But, they would probably have to list every Broker out there. I would imagine there is some meetings going on at Brokerages and lots of phone calls being made to shorts. At some point, this has to blow wide open. And also I would expect that those who sold will have a hard time getting any shares.
I find it curious that Scottrade has not picked up the Buyin report, or, since they are in so deep with NITE, maybe they chose not to pick it up. Has anyone else's broker picked it up as news?
Is it just me or is this report by BuyIn not HUGE. It lists all the MM's who have participated in SPNG, the number of shares, and percentages. It goes on to dictate the rules relating to naked shorts and says that they are out of compliance. I don't know but it seems to me that they have been outed and common sense says they will start covering in earnest. That may be why several are not getting filled. They would need to buy all the shares they can and not sell back into the system. Thoughts?
No, I thought that maybe Soapy would know, but Haven't heard anything.
Soapy, can you verify that Bill Young is no longer with IR? And why?
No, I don't.
Yep, that's what I heard too, he's gone.
You are right to be very cautious, we all should be, the shorts are not going to just lay down. However, I believe the Company has been working toward this showdown and hopefully they have all their guns loaded with special ammunition that will take the fight out of the shorts once and for all.
I've heard definitely Monday.
no_BS, regarding your post about Monday, I tend to believe that last week was not just random investors getting on the Sponge bandwagon, but a concerted effort to accumulate shares and most importantly, to increase the share price. This would not be done only to let it fall in the coming week. If their intent was not to raise share price, but just to accumulate,they would have gladly allowed the MM's to hold the price down, as they tried so hard to do. I think it could be assumed that this happened it anticipation of an event that would allow them to make much more from their newly bought shares than just a few pennies. As always, we must wait and see, but I think this will be a memorable week coming up.
Or....maybe it was not a dream but a nightmare, and it doesn't mean anything. So, while you are right that the important things in life are family, friends, health, and safety, you can assure those things with the money you will make from Spongetech. Ours is a world that happiness is free, but unfortunately, security costs money. Wish it was different, but not yet. Yeah, watch out for the Goldiggers.
I hope everyone get some much needed rest this weekend. We have had a very wild week and it was full of exciting EOD trading. I personally know that I won't get a winks sleep and will be worrying all weekend about what will happen on Monday. But just because I won't rest doesn't mean that all of you shouldn't forget all this and have a comfortable weekend. So, don't think about it, don't think about wheter or not you will be rich or poor next week, don't think about if the kids will have food on the table, and most of all don't worry about if you will have to work for 35 more years. Just get some rest, cook a hamburger on the grill, go to Wal-mart and buy some school clothes for the kids, and take it easy.
Then next week when all this starts back up and we all get rich, tell Wal-mart to go to hell, take the kids and the wife to Macy's in New York, Go to Ruths Cris for a huge steak, and buy the dog a diamond collar. Then you'll sleep like a baby. Oh, and tell your boss to "take this job and shove it". Huh?
Why do you say that?
Hell, I've had a stomach ache every morning since June 12, this has got to end SOON. Yea Baby!!!!!
Don't worry pal, I am here for the duration. I'm not taking that chance again, I learned my lesson, haha.
That baby has got some suckem! Is that a Spongetech only sign, I've never seen one like that. Cool.
Uhh......that's a hell of a sign, WOW.
Hey DG, that is a great number. I'll go along with .24
But ROB....he went to Harvard.
Yep, behind SM's finger. He is the man that controls our future.
I can vouch for that Debbie. Sorry.
I think that is a good plan, I just hope those holding the legit shares will put some back out into the market for those who want to get back in. No telling what this Company will be selling at 2 years from now. Good luck.
It will be easier from here on out. The good guys got it together now.
Very good, glta.
bldshy, I understand wanting steady growth vs. volatile jumping, and most would agree that is the best way for a long term investment to play. However, we have to keep in mind that the shares we own are air shares and the objective is for the Company to clean up its share structure so that it is not plagued and held down by a naked share position when it moves to Nasdaq. Therefore, it becomes a dirty game of beating crooks and forcing them to buy back their illegal shares they sold us. That will entail a rock solid plan and then the implementation of that plan. Probably will only get one good shot at it. It will be full of surprise moves on the Company's part and that will mean volatile moves in share price. At some point, there will be a defining move that will force them to cover and when they do that, they will turn on each other and that is where the squeeze comes in. It will be every short trying to get shares at a price lower than the other shorts. A buying frenzy where the winners will be us. Then we can take our money and invest in Companies that have the kind of steady growth we say we want. But it will be very boring, safer, but boring. lol
Ha, very good point.
I know I had fun today. It is so obvious that the shorts can no longer hold it down, and that their time in the saddle is over. I know they are powerful and smart, but I would imagine there is some twisted panties tonight amongst them. Many of us have been here for a year or longer and many more for a few months, and I would like to say Thanks to all who have held, and believed in this Company. That is what has held it all together. They couldn't keep up with the success of the Company (many kudos to SM and crew), so they tried to work their magic on us with lies, rumors, negativity and scare tactics. They couldn't beat us down either. They met their match and now it's time for them to pay.
K is yearly, and Q is quarterly.
Nah, we'll blow right through .50. That's for baby stocks, we have a full grown money makin machine here. lol
10K will be Monday.
Very good day. I expect to see three more good days with some good news sprinkled in, and then next week the hammer falls on the shorts. In a short time this will be over and none of us will know what to do with our days (at first anyway, but we'll adjust when we finish counting all our money, haha). Looking real good!!!!
Best stock of 2009 on Best Damn Penny Stock
http://bestdamnpennystocks.com/best_penny_stocks.html
Absolutely, NO DELAY on 10K. Robison, Hill & Co, will finish this 10K and D & T will do audit on 2010 10K. Read the PR.
Hip Hip Hooray! Hip Hip Hooray! Hip Hip Hooray!
Now today is what I call a fun day. I do believe it has all started and that the news from here on out will just get better and better leading up to the 10K. Actually, I would say that the 10K will be anticlimatic. Spongetech, you done good today.