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Yeah what he said.
But I still think the machine is broken. Some one reach out there and give it a slap. You know, an external adjustment or something, getting tired looking at that same old # .10 everyday :}
Anyone have stats on accumulation and cmf? Which way is the money going?
That's why they need a watchdog.
Alright. I'll throw the 2nd million at it if you throw the first. :)
Incredible though how the mm can hold this at .10 for days on end.
Well, someone is asleep at the wheel that's for sure.
Looks like only about about 200 thousand UQ shares out of 56 million have been covered lately?
Don't they realize what's sneaking up on them?
Maybe this is what the Judge is waiting for?
Could be a ruling by EOW.
You're right again VV.
That's precisely why it's important to maintain an awareness, stay involved and to be heard.
Cheers
GT
Sure some waffly prices.
I'd be willing to bet what we are waiting for before the pps will start it's rise is the same reason we are held at 10 something. This is just my observation, but you see all those trades going through at .101 or around there that are painted like sells? well, my guess is those are actually commercial shorts being allowed to fill and that is why the pps is being held here. Either we stay and they get their fill or news and they have to let it go. Squeeze and all.
I don't know if they could crush JPM, JPM is a trillion plus conglomerate. But they sure could take a nice strip of him then steal his bacon while he recovers.
lol.
I know one thing. Between now and the 24th of this month it may not be a good time to short this one
With all the factual documentation backed by case law WMI's team has, It is not going to be possible for the Judge to rule any other way but to come down in favor Of WMI on the 4b and the demand for discovery into events leading up to the seizure. Both rulings are guaranteed to turn the tide on restoring shareholder value.
Exactly fsshon.
Buyers hitting the ask "like a muskie"
:)
News of course will drive this hard, but there seems to be more and more of an awareness of the likely outcome that will keep enough steady pressure on the ask to advance it.
According to the pre market B/A,
confidence in WMI's arch rival JPM seems to be eroding ever so slightly.
Perhaps someone could also rally and organize the NW tree huggers to set up a tent city across the street from the court house. They could chant free WaMu and the Judge would hear their cries and be moved in WaMu's favor. Besides, the press always seems to show up at tent cities anyway.
Yeah! and throw a few other horses into the mix like Leh and GS including their contingent side bets and you got a big enough venue to parlay on the celling if you wanted to.
LMAO!! ;)
Shoot. my two cents must have jammed the machine...
I havn't seen a post in almost an hour now.
Free Wamu!
hmmm....A guy could make book on a para mutual bet parlay in this horse race.
I'm liking the field of picks here and how they can be "parlayed"
Seems to me someone in the position of authority with respect to oversight in WaMu's case would want to know what percentage of the O/S if any is spurious. Based on JPM's MO, I would want to know, have the shares or share price been tampered with? Would not someone like the trustee want to request a cusip change in order to clean up and reconcile the accounting of shares?, especially when it comes to establishing settlement value before any settlement negotiations can be completed.
A cusip change would require any NSS situations to replace any air shares they have out and necessary to satisfy their FTD positions. The exchange of shares a cusip number change brings about of course will cause a chain reaction. Regular short's eyes pop because they just saw the float shrink it front of them and would no doubt suddenly feel a strong urge to buy back their shares. Add a little more volatility because of market sentiment favorable to WaMu and the combined buy pressure from all the above will forge a truer pps then we see now, which prolly would choke a horse by then.
Free WaMu
Great story js. Thank you for being honest and sharing that with us. A breath of fresh air indeed!. It tends to validate what a lot of us already know.
I was having a hard time accepting that some mods categorically deny the prospect that Matt could have done the things he is charged with not to mention that he may still have his hands involved in areas that for obvious reasons did not disclose to everyone around him.
The scenery, the smell of money and cheap perfume ahhhh.
LOL, and no snide comments by the pit boss?
..."I just got back from Atlantic City. But the depletion of ones wallet is at least properly regulated there"
Welcome to the carnival.
Pinks Sheets is simply a clearing house for financiers to move their paper and a forum for Con Artists to harvest unsuspecting investors.
Pink Sheets It is not an exchange. There are no rules. Just flashing lights, money placed on bets, barkers, carneys and shills all around you.
What you express is what happened to many unsuspecting investors who were beguiled by Matt/ihub, one of the players mentioned above.
Hence the board title.
Tragic really.
GLTY
Hit the easy button on that one.
IMO, If Matt wanted you off a board for any particular reason, Matt would have masqueraded as one of the mod squad and deleted a post or two then banned you. If you asked what was up he would not respond or you would have gotten a patronizing reply that it was an automated response bla bla bla. If you were assertive in finding answers, you would eventually get yourself restricted, banned or booted or all of the above. After all, Matt made the rules for patrons, but the rules did not apply to him. Or at least he thought.
True not to big to fail. But In another sense it's a catch 22 for JPM because WaMu is now "part and parcel" by virtue of the take over and absorption of WaMu banks into JPM. And so as you say, unwinding the deal will never happen.
At the same time, the part about "systemic" I like in this case is that the whole of JPM is individual part and parcel components including now WaMu banks and so all the parts are "systemic" to the whole which makes it impossible to extrapolate WaMu banks from JPM. It can't be done so JPM has no option but to settle and I've heard they are not in a position of strength.
In other words unless one can go back in time, it is impossible to unscramble an egg
Yet because of let's call it the "string theory"for lack of a better word, JPM may be too interconnected to separate what has been done.
And really, all that matters anyway is what will the share price be?
"systemic"
One word says it all.
Nice work commander.
Another Matt co huh? hey we could pumpa dumpa and short it?
hmmm sounds like a good law firm for you know who ...anyway Just crusin by 'ol ihub 'yall thought I'd ring matts bell see if anyones home? knock knock helllooooooo anyone home in there lol Well gosh too bad I missed him, sure hope he likes his new digs alright. heard though where he is going the food is terrible and the room service is even worse but I wouldn't tell him. Let it be a surprise.
You make your own bed and you lay in it.
RIP
I wonder if not the worst part of TARP to the banks are the exec bonus caps?
Next would prolly be the stringent reporting requirements. Banks don't like regulators looking around too much. Besides it's just too humiliating to have someone constantly looking over your shoulder.
The end of a stocks life guarantees among other things that shorts wont have to cover. A stock can be halted for example during the announcement of substantial material events that would dramatically affect the company and hence the pps or for example a stock could be cancelled for financial failure or BK in which the judge cancels the stock.
IMO, What you will find with pink sheet shorts more often then blue chip stock shorters is that certain financiers prey on small start-ups pink sheet companies that are strapped for cash. The nefarious financier will give the start up money in exchange for shares in which the financier pumps then shorts and dumps. The objective here in Pink Sheets though is to drive the startup out of business and into bk where they never have to cover.
I believe the above happens in pinks because Pink Sheets is not even an exchange thereby it is not regulated in the same manner the OTC and above markets are. Pink Sheets is simply a clearing house for financiers to sell their paper and that is why there are so many bagholders in Pink Sheets.
In Wamu's case however, I don't realistically think the shorts will be able to crush and drive WaMu into BK. WaMu is in fact emerging from BK so the shorts will have to pay up. Which is why IMO they have been relentlessly trying to hold it down while they gradually cover.
I would think it would depend on what circumstances a stock was halted.
I would think in WaMu's case, the only effect it would have on the shorts is they would have more time to grimmace before the stock was re-started and they had to cover all in one chunk.
Ouch.
That helps explain things a lot.
Thank you alliecorp.
Green close walking in anticipation?
The only thing that's missing right now is volume.
The sidelines are getting crowded though.
oh yeah. free WaMu!
funmaxus. I can't see where an apology is necessary.
What you posted was absolutely as clear to me as you intended it to be when you wrote it.
You also emphasized that the data you mined may or may not be accurate. The data you mined included a disclaimer regarding the validity and or associations of names and people based on the business cards found at the meeting.
The whole thing is terribly confusing with all the overlapping crisscrossing and backtracking Panu and Errol are doing. That's why I suggested a lawyer to demand answers. Paul and Errol do not seem to respond to everyday people. It seems you have to be an attorney to get their attention.
Keep up the great work!
And how.
Interesting....
I think is was yesterday where I read that as this story unfolds, people are gathering at WaMu message boards all around to watch what happens in court with WMI.
JPM and the FDIC's attempted coup of WaMu will probably go down in history as a looking glass into who controls our Government.
If I remember correctly, free enterprise is a fundamental tenant on which our economy stands but at what point does free enterprise become no longer free?
And so the people gathering along WAMI's banks begin chanting quietly at first...
free WaMu...free Wamu
hammer raises to apex
gavel struck
WaMu free
cheers for all!
LOL!! biz very funny!
Did you know that later JPM tried to bring yet another motion trying to bring it here because as they said: "they weren't all there"?
Incidentally , regarding an earlier post, someone mentioned that I think it was some kind of CT shares or at least preferred that would not yield interest during the BAC case in NY that happened to be over some real estate/fake paper deals that had eventually wound up in Bof A's portforlio. Anyway, long story short, in that case the Judge ruled that even the shareholders that sold prior to the default, the shareholder would get full value from the otc price that was earned later by the defunct contractor who carried the original fake paper and sold it to the bank.
True story.
Is it happy hour yet?
The talent here is almost like so many forensic experts crawling over a train wreck as it happens while at the same time collectively reporting in fine detail what they are seeing to us at home.
Earlier today I could tell by looking at the postings, the B/A vol and ticks that it would likely close green today despite the mm's.
If anyone here is like me, and I know I am :) I really appreciate the effort these guys are putting forth on the board. I'm afraid to mention any names for fear of forgetting one or two as I have old timers disease and CRS anymore.
I can think of 10k reasons not to short.