Replies to post #97974 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[spng sqretefellin]

there is never necessarily a record of short positions unless the brokers know it is a short. it takes months to know this info as the firms must balance first their holdings. then the MM's do it. then, i dont know what happens but when you see the short positions look at the reporting dates. there are always short positions in every stock, that is what makes the price go up. a dealer buys some from someone then tries to sell it. every second of every day there is a short position of sorts in almost every traded stock. if you buy it from fidelity and they dont have any in their own inventory to sell they are short until they buy it from a broker. maybe too simplistic but just a fact of life.

[liable]

Wadi, I think it's easy to explain the volume, and I believe today's count is a little less than 10% of the O/S. If that's not the case, then TAKI has significantly increased his trade size, everyone else claims to be holding and adding.
I also have a tough time measuring fundamentals with a gagged TA, and a cash position as of the last filing which should be all used up by now.

[phrantic]

Totally agree Wadi. At the end of the day it doesn't matter.

[wolveryne9]

the market always corrects itself.maybe investors needed time you know the big investors are waiting for it to be over a certain price before we see their money.I was reading that about aig and they were saying their price is below what institutions will pay for thier stock.so maybe spongetech needs to just keep buying more shares and retiring more shares for this to start picking up.at least thats my theory.but it looks like things are going good for now.as long as we keep going up.now my sell target is 6.5 cents see if we hit it :)