Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Well, as I posted earlier, I am share-less for the weekend! Instead of banging my head against hard objects however, I simply worked out my mortification by doing some manual labor in the grove! Helped a little I guess!
Now that I have some beers in me, I am recounting the major event that made me pull the trigger prematurely. What was it? The PQ’s tanking from >85.00 to $8.00! A few posts on iHub that said commons are worthless did not help the situation either as well as the EC’s non-involvement at the hearing!
Now did I lose money – no! I was averaged in very low and made some coin even though my sell-order didn’t get filled until .12ish! I tried to get back in around .18ish later in the day but couldn’t quite make it!
Why am I telling my personal tale of whoa? Because I have always been profusely honest with every post on this or any other iHub board! At the moment, I am feeling as if my rug was pee’d on again! After all the dust has settled, I will re-enter next week!
BTW: To all the longs, congrats on having massive sacks! … rs
Thanks for the earlier reply JHD and others who have PM’d me today! I’ll get back with you all later tonight after I start drinking! I got greedy and thought that near EOD I could get back in at <.18, then the damn thing shot up to >.19 at closing!
So here I am without shares over the weekend! What a fine kettle of fish! … rs
Hey JHD and all. What a day and I will admit that I it was not one of my better decision making days of all time! I was not getting enough court info and iHub was so GD slow that I finally bailed around .12 as it looked like we were heading to .05 territory or worse! So after holding for an entire year and never flipping, I made out with a little coin! LOL!
I went outside to get some fresh air and have a few smokes (yes cig’s) and contemplate what the hell just occurred! I go back to the computer after approx 30 minutes and I am seeing a .20 pps! Jeez …missed a good re-entry! Dammit to hell!
Waiting to buy back in at around .15 or so if possible in a day or so! I let myself get played like a fiddle today and feel like a real dumb-assed bone head! … rs
LOL! Good morning JHD and all! Gotta take my boy to school but will be back in time for the hearing. Will not be listening in - but hope to get some John Madden like play by play as usual from this great board!
Go EC. Go THJMW … rs
Many people seem to be over-analyzing the pps movement this morning! Today is about what goes down in the hearing – period! All longs know what I mean!
Praying for a righteous day! GLTA ….. rs
UZ! Your commitment here is valiant! I would love to stay up all night but my body says otherwise! Going to the couch now and will be eating leftover KFC while watching TIVO’d Seinfeld’s!
Good night all! Friday may or may not be epic! Hopefully EPIC! … rs
BIZ! I have been in for almost exactly one year! Coffee in the morning, iced tea throughout the afternoon, and beer at night while smoking Camel’s like a fiend! Most physicians would NOT recommend this routine but it works for me! LOL!
… rs
Gado. I am sure that many folks here feel your pain! I for one did not think that we would currently still be sitting here in full litigation mode! Much longer ride than I expected!
I have said this before but this has been the ride of a lifetime – no matter how brutal! I do NOT do roller-coasters (too scary), but I wouldn’t have missed this ride for the world!
Take care … rs
This has already been a week to remember and it still isn’t over! Hopefully tomorrow will be a cosmic day where THJMW administers some good old fashioned whoopass!
I am not anticipating a settlement tomorrow but a favorable ruling on the SJ is candidly ripe for the pickin’! I have no doubt that after she furnishes said ruling they all gather in her chambers (again), talk this out, and adjourn until next week. I could live with that!
Of course I will NOT be surprised if the hearing resembles 03/04 where it commences late, nothing happens, and is rescheduled! LOL!
Looks like I picked a bad week to give up Quaaludes! … rs
Have taken some time off from the board today! Decided to get some fresh air and do a little work in the grove! Have been bleary eyed from the last 48 hours!
Just from quickly sifting thru 1 out of 7 posts, it seems that there is some hoohaa regarding a 03/15/10 omnibus that was cancelled that did not even exist in the first place!
Is that about it or did I miss something? TIA … rs
IMO, if someone regularly and haphazardly switches IHub ID’s, reading their posts is tantamount to reading dog crap left on ones lawn! You know the motives of the dog, but cannot figure the motives of the dog-walker! .. rs
Agreed. It is a bloody long read and I cannot say that I have read every word but the bulk of the claims should be tossed IMO! … rs
I must admit that I do not know what a Beijing Beer Raid is but after the last two trading days, I have been raiding my home-office fridge of its contents of Natural Light!
Hang in there all longs. The last few days have been real gut-busters! I must note that even though yesterday was as manic as they come, we are still up 9 cents since EOD 03/04!
GLTA … rs
Knick. In reference to Kirsten Grind! Has anyone else noticed that her silence has been deafening as of late regarding WaMu! On her Twitter page, she merely linked http://www.thestreet.com/story/10697718/1/wamu-stock-highest-since-failure.html Dan Freeds article of 03/08, and has not yet mentioned yesterday’s fierce and bloody historic trading day! She also never reported on the 03/04 hearing which offered this Friday’s hearing monumental significance!
Do not want to sound conspiratorial but it just seems that she has been silenced by someone or some entity!
We shall see … rs
I was referring to another post that lets the MM’s swarthy moves pry the shares from weak hands at this critical juncture! … rs
If the weak get fleeced, that is their problem – not mine! LOL! … rs
Looks like the court agenda is making its rounds and has gotten this here thing churning again – much like my guts were yesterday! LOL!
The agenda looks good and as several have posted earlier, any delays on Friday will be nothing other than beneficial to us - allowing more time for settlement talks to move forward to fruition! … rs
I cannot agree. The sell-off yesterday was a mixture of initial profit taking. MM manipulation, and panic selling! Below is my post from last night …
Posted by: rickszy
Date: Tuesday, March 09, 2010 9:57:00 PM
In reply to: None Post # of 166299
Wild ass day today folks! It was inevitable that we would see a drop today considering that we gapped up way too high the past 2 morning openings! Now that said, did I expect a drop from .70 to .34 in ninety minutes? Not on any ones Nellie!
I believe that the MM’s intended to gently take it down to around .55 or so which was the previous days close to gather more shares. I think that they would have stopped it there and proceeded as normal, however, the DC court news was confusing at best (causing some sell off) resulting in newbie, and swing trader panic selling further creating a precipitous drop from .55 to .34 in twenty-five short agonizing minutes!
Obviously we made a nice recovery and IMO we are currently back to a legit market price with a stronger overall base! … rs
… rs
AJAB. I have been in for one year and today was the strangest trading day in my memory with WAMUQ! 140+ million shares! Yowza!
We are good and I am looking forward to Friday’s hearing as are all longs! Most true longs were not shaken today! Tell your friends and family to chill and suggest to them that beer drinking will ease their pain until settlement occurs!
All IMHO! GLTY … rs
Yep Cents! I believe that after today, we are on a level playing field! Cannot wait until tomorrow as I am a glutton for punishment! LOL! Keeping the faith and GLTY and all … rs
Wild ass day today folks! It was inevitable that we would see a drop today considering that we gapped up way too high the past 2 morning openings! Now that said, did I expect a drop from .70 to .34 in ninety minutes? Not on any ones Nellie!
I believe that the MM’s intended to gently take it down to around .55 or so which was the previous days close to gather more shares. I think that they would have stopped it there and proceeded as normal, however, the DC court news was confusing at best (causing some sell off) resulting in newbie, and swing trader panic selling further creating a precipitous drop from .55 to .34 in twenty-five short agonizing minutes!
Obviously we made a nice recovery and IMO we are currently back to a legit market price with a stronger overall base! … rs
Holy Hell Folks! I can’t help but wonder if that was the FINAL shake before (imminent) settlement! … rs
If by advisors you mean brokers, they will never suggest investing in a Q! They do not have the time or the brains to do any proper DD on these puppies.
That is why boards such as this one exist and flourish! … rs
Mornin’ JHD! Nice pithy synopsis – says it all for the newb’s!
Is your new pic the Murcielago lp 640-4 sv or the 670?
PS: Approaching HOD – this is nice … rs
The FDIC is a lecherous bunch! … rs
FYI: New Court Doc
http://www.kccllc.net/documents/0812229/0812229100308000000000007.pdf
... rs
FWIW - New Doc:
http://www.kccllc.net/documents/0812229/0812229100308000000000005.pdf
... rs
Cool. I have most of the current pertinent PDF’s on my hard drive!
Just a PSA to all who are looking for current/archived court docs, you can find them at:
http://www.kccllc.net/Docket/SearchResults.asp
The above link will help if an iHub post w/link cannot be found/inaccessible or if Ghost is not available!
… rs
Docket #1997 filed 12/14/09:
http://www.kccllc.net/documents/0812229/0812229091214000000000008.pdf
... rs
I agree JHD! Volume has dried up a bit but consolidating nicely around .50! Final hour should be very telling! … rs
This is a WOW day is it not JHD!
Congrats Longs! Anyone in at approx .05 is sitting on nearly 1000% gains at the moment! Pre-seizure folk who have averaged down are probably nearing a break even point or better! Once again – congrats!
As we know, smashing thru the 52wk high is peanuts however compared to the end-game which may very well be coming this week to an online trading account near you!
Go Venable! … rs
So what has changed between last Friday and today? No court docs or news! Hmmmm …… Some big dawgs know something! … rs
The few, the proud, the commons!
Catch ya tomorrow JHD for what may be the beginning of the last week of trading WAMUQ!
GLTA … rs
Once I find said iBox, what do I do next?
LOLOLOLOL … rs
I concur as well as I mentioned a few posts ago. There are a lot of newb’s who look like they want to get in next week, and for every iHub poster, how many overall investors does that make? Quite a damn few I would say!
Bring on Monday! … rs
Supra! I agree whole heartedly. I am just guessing that many day-traders that usually only follow the charts probably made sure that they were in for this weekend – just in case! If we open trading tomorrow without settlement, I would almost guarantee that some will exit! Not the end of the world, and their problem – not ours! LOL!!! … rs
I’ve been thinking about how Monday will open as well. Many folks WERE probably in for a weekend settlement. If we open trading as usual many will probably sell first thing! Now … if this board is any measure of overall market sentiment, many new investors want in and will be getting in at a discount price if they wait 20 or 30 minutes!
Who really knows but that is what we may possibly see IMO. The first and final hours should be very interesting.
The lack of news articles over the weekend was more than disturbing! For some reason, I recall that Kirsten Grind was in attendance on 03/04. Either someone tweeted it or someone in attendance from this board or Y posted same. She has NOT come out with an article however so once again – who knows! Curious … rs
Good evening JHD! Putting a FMV (fair market value) on a case that has been sputtering for some 18+ months is not rational and in our hearts – we all know this! Best case scenario rarely happens, hence the term – best case scenario! I know that pre-seizure holders may find a settlement that bestows anything less than $24 pps to be an affront, and I understand their thinking, but a $10 pps as apposed to losing it all is nothing to sneeze at!
Just from reading the posts here over the last year, most pre-seizure folk have fittingly averaged down (way down) and will be in a nice position with a $10 pps settlement! For those pre that did not average down, well that is not prudent trading IMO! Sorry!
Just as a share, is a share, is a share, - trading, is trading, is trading! One has to make the best of the cards dealt in any given play! We have all been there at some point in our investment careers!
Good luck to pre, post, black, white, and purple shareholders and thank you EC! … rs
At this point, IMO it is all about negotiation! We have a dandy EC and they are fighting for all equity, yes – even commons! However, anyone that has been around for a while knows that all parties have to give and take a bit! If a settlement is indeed to be proffered, all parties (JPM, FDIC, WMI. EC) will have to cry uncle in some fashion! Settlement negotiation is not arbitration where the winner wins!
I have been saying for months that the big settlement numbers will only come thru a trial where damages can/will be applied! I for one do not wish to sit thru a 1 or 2 year trial! That’s just me!
Simply abiding human nature, a settlement rendering a pps of $7 -$10 is not out of the question and probably fair (in a global sense) to all parties just to END this. There are many onboard that think otherwise (and please do not crucify me)!
GLTA and hope everyone is having a righteous weekend! … rs