WaMu

Something is going on.... Preferreds just brok down the $5.00 barrier yesterday and are up to $7.30 today. I'm thinking Manipulators are tempting me to sell.. lol. It is so not worht $50 to sell right now.
 
DigitalDave said:
Something is going on.... Preferreds just brok down the $5.00 barrier yesterday and are up to $7.30 today. I'm thinking Manipulators are tempting me to sell.. lol. It is so not worht $50 to sell right now.
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yeah, I have been watching... nice move again today. Still very light volume...
 
I hope some of you bought into this. I know you were considering it but I doubled my preffereds already and speculation is just going to drive this thing further. By on rumors folks...
 
DigitalDave said:
I hope some of you bought into this. I know you were considering it but I doubled my preffereds already and speculation is just going to drive this thing further. By on rumors folks...
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yeah, I bought in (purely speculative) for myself. Put 400 shares in my IRA. Missed the first part of the move from the 4.90 to 6.15. But still up about 50% with the move today.

I may still grab a couple hundred shares in my non-IRA account.
 
I would definatly try to get in before 10.00. I think once that barrier is reached the current holders of the stock are going to want even more out of that 'feeling' that something is brewing. It's actually kind of hard to buy right now are market price. I added to my position at 7.21, so I'm up pretty significantly. I'm still not selling it because this isn't a day-trading stock. I bought for a reason, and most people bought for the same reason I did.
 
I bought a bit. What I could afford to throw away...

So far I'm happy. I didn't get in at $5 though.
 
DigitalDave said:
I would definatly try to get in before 10.00. I think once that barrier is reached the current holders of the stock are going to want even more out of that 'feeling' that something is brewing. It's actually kind of hard to buy right now are market price. I added to my position at 7.21, so I'm up pretty significantly. I'm still not selling it because this isn't a day-trading stock. I bought for a reason, and most people bought for the same reason I did.
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Yeah, I am playing this as a hero or zero. I am waiting for the suit to either settle or go through the court process before I sell. So either WaMu preferreds jump back towards face value and I make a very nice return.... or the case goes against them and I lose 100% of my investment.

So even if I get a double prior to the case conclusion, I am holding on.
 
DigitalDave said:
I would definatly try to get in before 10.00. I think once that barrier is reached the current holders of the stock are going to want even more out of that 'feeling' that something is brewing. It's actually kind of hard to buy right now are market price. I added to my position at 7.21, so I'm up pretty significantly. I'm still not selling it because this isn't a day-trading stock. I bought for a reason, and most people bought for the same reason I did.
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It just hit 10.
 
Superfreak said:
Yeah, I am playing this as a hero or zero. I am waiting for the suit to either settle or go through the court process before I sell. So either WaMu preferreds jump back towards face value and I make a very nice return.... or the case goes against them and I lose 100% of my investment.

So even if I get a double prior to the case conclusion, I am holding on.
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Even a loss in the court isn't a zero yet though. WMI would have to completely fold. They have other assets (which some got taken with the bank and shouldn't have). But, it's at $10.90 right now.. it won't go below $10.
 
Damocles said:
Double isn't enough. That's why I chose to only buy what I was willing to lose.
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It will more than double my original investment ;)

Double isn't enough to sell-off, agreed! I will have to sell a percentage of my holdings at $100 to make sure I did insure a double, then hold 80% ;)
 
DigitalDave said:
Even a loss in the court isn't a zero yet though. WMI would have to completely fold. They have other assets (which some got taken with the bank and shouldn't have). But, it's at $10.90 right now.. it won't go below $10.
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True.... but in my mind I am treating it like it will. If I get something back, then it is a plus. Always prepare for the worst case scenario.

I may buy more on a pullback, with 400 shares right now I am in no hurry to buy right here though. If it does drop back under $10, I will think about more. But for now the 400 shares is enough. :)
 
DigitalDave said:
It's just advice for the 'gerbers' on this board like topspin, you know.. buy at .055 and sell at +.07... it'll happen. lol
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I see what you meant... buy common today and sell it in a few days.

I thought you were saying buy preferred and short common in a few days.

Just mis-read that post.... your fault.
 
Superfreak said:
I see what you meant... buy common today and sell it in a few days.

I thought you were saying buy preferred and short common in a few days.

Just mis-read that post.... your fault.
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Yeah, it wasn't proper engrish. I guess when you feel like you are getting good and investing, you start to sound like an imbecile.
 
Can i get an Amen?!? Who all bought in other than Super. Damo, you kind of insinuated you did, I think. Did you get preferreds?
 
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