Washington Mutual Preferred fka WAMPQ

[marayatano]

Collaboration:
Did anyone notice NITE acting strangely the last couple of days? NITE is know to be the one who caps a run/limit the up side or boxes in the BID and ASK. The last week, NITE appeared to create BID support and when on the ASK, sold into the market, BUT kept on upping the ASK to move the stock price higher every time someone bought shares.

See link below:

http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=WAMPQ&SortBy=volume&Month=3-1-2009&IMAGE1.x=15&IMAGE1.y=10

STXG came on the scene and sold/dumped 721,340 shares of WAMPQ into the market in an orderly fashion.

NITE traded 619,265 shares of WAMPQ for March 2009. The previous month, Feb 2009, NITE traded 166,640 shares of WAMPQ. This is a SUBSTANTIAL jump from the previous month.

To me, the above indicates that NITE "maybe" in possession of a lot (not all) of these shares of WAMPQ that were sold by STXG. Hence the observance that NITE seems to be pushing the PPS higher.

Now look at the WAMPQ chart. You will notice nothing but a continual up tread. NITE has a lot of shares to sell: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33583521

The difference between NITE and STXG is the NITE is a master manipulator. NITE is able to move up the ASK while STXG capped any run by under cutting any MM on the ASK.

Another thing about the chart I see is that there is a "gap" at around $8/$9.

The question is: Technically do we fill the "gap" OR is NITE a true master manipulator and can move the market up?

If someone wants to calculate the volume from the time STXG sold their last share until yesterday and add half of todays volume (half because I assume half were sold by NITE) to approximate the shares sold buy NITE, that would be cool. Would like to see how much NITE may have left. Need to figure a plus/minus for the other MMs as a variable.

IN other news: WMI filed a motion to request their reorganization plan. This was another factor in a lot of buys in the WMI stocks.

I would have rather saw a nice gradual up trend rather than a spike like this.

Any other observations?

The above is strictly my opinion and observance.

BTW: It was nice to see a HUGE amount of green in my account until the end of the day. :( BUT, it is still GREEN!!!!

This is my last post UNTIL IHUB resets my # of posts allowed at midnight EST