Spongetech Delivery Systems Inc (fka SPNGQ)

[spngmeofff]

i think after this consolidation. we need to consolidate the last run we had. its healthy for the chart. going from .078 to .127 is a big run in realtion to percent change. to keep from crashing like we had on black friday we need to support this level and we are doing it very nicely. a normal 50% retracement is healty and we have not (and I hope not) reached that level.

pr like today should have moved the chart but longs like me and others are already in and it is going to take more that just pr to bring in money off the sideline after a .28-.08 drop like we had that day. that is why consolidation is NEEDED. it provides some comfort to a new buy in that he hopefully wont loose it all. (although this is a penny stock and the risk is there)