WaMu

Superfreak said:
15.00.... whomever it was that bought at $36.50 today has got to be pissed right about now....
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Yep... the manipulators took a nice chunk of Shares though. Someone's holding 50K shares of this now by messing with the price. We are up +30% though today. But my head makes me feel like it was a loss... crazy how they can screw with your head.
 
DigitalDave said:
Yep... the manipulators took a nice chunk of Shares though. Someone's holding 50K shares of this now by messing with the price. We are up +30% though today. But my head makes me feel like it was a loss... crazy how they can screw with your head.
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Sell! I'll buy it from you at your original price and ensure you have no loss...

:D
 
Superfreak said:
You should take that deal and run dave... he is offering you a full return of your original investment. How often do you get that kind of deal.... SWEET!
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LOL, yeah, I'd fall for that one.

pinksheets are crazy! Like i said, a bucking bronco all the way up. We might even see 10-12 tommorow to try and scare more people out. this thing is heavily manipulated but they wouldn't be messing with it at 16 if they didn't think it was worth much more.
 
DigitalDave said:
LOL, yeah, I'd fall for that one.

pinksheets are crazy! Like i said, a bucking bronco all the way up. We might even see 10-12 tommorow to try and scare more people out. this thing is heavily manipulated but they wouldn't be messing with it at 16 if they didn't think it was worth much more.
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Ok... here I am going to be serious and disagree. There wasn't a lot of manipulation on this. It didn't even crack 100k shares traded today. (though volume was up well above average)

What we saw was people entering market orders getting burned due to the very very wide bid/ask spread that held up all day. It will likely continue to see this volatility until volume picks up enough to narrow that spread. If it hits ten tomorrow, I will likely pick up so more shares. Personally I hope it slides under $10.
 
Superfreak said:
Ok... here I am going to be serious and disagree. There wasn't a lot of manipulation on this. It didn't even crack 100k shares traded today. (though volume was up well above average)

What we saw was people entering market orders getting burned due to the very very wide bid/ask spread that held up all day. It will likely continue to see this volatility until volume picks up enough to narrow that spread. If it hits ten tomorrow, I will likely pick up so more shares. Personally I hope it slides under $10.
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If you look at the volumes and the prices. About 80% of the volume was on the way up. Only 20% of the volume was on the way down. On its way down it would go Red green, Red, green. Basically they were messing with peoples triggers. A healthy 30% up day, but damn was that a roller coaster.

You aren't going to get a lot of volume on a pink sheet stock usually. 100K is a lot since I've been in on the preferreds. But, there is definatly manipulators in pink sheets. It takes a different kind of investor to play these. A little more will power than a regular stock. It's the main reason you only throw play money at this, because it will break your pshyche from time to time. 150% up day to only 30% up...

A 30% up day after a 50% up day, and I almost feel like kicking myself because I had a 'false' extra $20 a share.
 
DigitalDave said:
If you look at the volumes and the prices. About 80% of the volume was on the way up. Only 20% of the volume was on the way down. On its way down it would go Red green, Red, green. Basically they were messing with peoples triggers. A healthy 30% up day, but damn was that a roller coaster.

You aren't going to get a lot of volume on a pink sheet stock usually. 100K is a lot since I've been in on the preferreds. But, there is definatly manipulators in pink sheets. It takes a different kind of investor to play these. A little more will power than a regular stock. It's the main reason you only throw play money at this, because it will break your pshyche from time to time. 150% up day to only 30% up...

A 30% up day after a 50% up day, and I almost feel like kicking myself because I had a 'false' extra $20 a share.
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If anyone is putting in stops on this, they are a tad bit insane. Doing so on such a thinly traded stock is suicidal to a degree. Especially when the bid/ask spread is so wide. Stops become pointless.
 
Superfreak said:
If anyone is putting in stops on this, they are a tad bit insane. Doing so on such a thinly traded stock is suicidal to a degree. Especially when the bid/ask spread is so wide. Stops become pointless.
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Right, which is why it was such a low volume that they were able to drop it $20. There were only a few stops, not much at all. But the spread was so large they could effectively buy/sell $3-$4 below current level and trigger a stop or two. Of course that was such a huge run up that no one currently holding had the balls to actually buy more until it dropped all the way again, and those that bought high shat themselves. I would urge them to hold because they still got in cheap, but I'm sure some of them sold at a loss because they didn't do their due diligence first and bought into a rally hoping for immediate riches. I've been holding commons since the seizure, and preferreds for over a month. I'm 60% certain the commons will recover, but 98% sure on the P's.

This run up today makes me even more confident now that I can handle it when it does start to shoot up. I won't be tempted to sell until my targets are hit.
 
DigitalDave said:
Right, which is why it was such a low volume that they were able to drop it $20. There were only a few stops, not much at all. But the spread was so large they could effectively buy/sell $3-$4 below current level and trigger a stop or two. Of course that was such a huge run up that no one currently holding had the balls to actually buy more until it dropped all the way again, and those that bought high shat themselves. I would urge them to hold because they still got in cheap, but I'm sure some of them sold at a loss because they didn't do their due diligence first and bought into a rally hoping for immediate riches. I've been holding commons since the seizure, and preferreds for over a month. I'm 60% certain the commons will recover, but 98% sure on the P's.

This run up today makes me even more confident now that I can handle it when it does start to shoot up. I won't be tempted to sell until my targets are hit.
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I think you are way too optimistic on the commons... but I agree with you on the preferreds. I can see the P's realistically getting back to $300-400... a slam dunk victory in the case could push it closer to face. The commons though... I dont know... after the creditors are paid, then the preferreds... I dont know... depends I guess on how legit that IRS tax bill is...
 
Nevermind my original thought on that, Towers is an HR firm specializing in Pensions I believe. They do lots of other things too but it could be a number of things they were employed for, and I think they may have just been there to write something up for them.
 
Oh, and one last one for a laugh for today:

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I've been receiving a lot of customer service literature lately about the switch over to Chase. Apparently a lot of it will take place on May 24th, and I will be receiving my new checkbooks, etc.
 
Threedee said:
I've been receiving a lot of customer service literature lately about the switch over to Chase. Apparently a lot of it will take place on May 24th, and I will be receiving my new checkbooks, etc.
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Enjoy your new shitty bank. JPMorgan also raised my credit card rates even though I've never been late, nor have I used their shitty card since before my wedding. Shitty bank with shitty service, and about to be a part in making me a lot of money.
 
DigitalDave said:
Enjoy your new shitty bank. JPMorgan also raised my credit card rates even though I've never been late, nor have I used their shitty card since before my wedding. Shitty bank with shitty service, and about to be a part in making me a lot of money.
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LOL Then I'm the only one that should be complaining. I finally saw the need for a credit card (WaMu offered me an application process) right as the credit crunch had hit, so I couldn't qualify.

Its a self-fulfilling prophesy. I don't have a credit card, so I make payments with my debit card, so I overdraw, which hurts my credit score, making me ineligible for a credit card. Costco rejected me as well, but I finally got a credit card with Shell. I also recently applied with Fred Meyer (since I shop there a lot), so I'll see how that goes...
 
Commons hit that .07 cents I recommended as a selling point. You might be able to pull out .071 -.075, but it's not going to go much higher with investors being unsure how or if they get paid on settlement. I recommend a sell on Commons and use it to buy P's or K's. Right now, K's are cheaper and just as sure, if not moreso than getting paid than P's.
 
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