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I love how peoples' sentiment changes with the stock price. Too bad sentiment is a lagging indicator...
If the report shows less than 20 million positions left that would be a bad thing imo. That would mean that 25 million+ shorts covered, and meanwhile our stock went down. My hopes are that almost no shorts covered this time around.
FINANCE EXPERT: WHY 'ZOMBIE' STOCKS DON'T SPOOK SOME TRADERS
Two weeks before Halloween, the Securities and Exchange Commission again warned investors against buying shares of bankrupt companies, but like those creatures in horror films that rise from the dead, so-called "zombie" stocks--shares of companies that failed during the financial crisis--are still on the march.
Take, for example, Washington Mutual and Lehman Brothers. At the end of last year, their stocks traded at 2 cents and 3 cents per share, respectively. With no future earnings in sight, shares of Washington Mutual recently traded around 20 cents, and Lehman Brothers shares have hovered around 15 cents--spectacular gains fueled by what many consider nothing more than gambling.
Critics have called on the SEC to halt the trading of such stocks to protect unsophisticated investors who might be lured into unwise trades. But Lecturer of Finance Sherry Jarrell, who teaches a graduate-level class on investments and portfolio management in the Wake Forest University Schools of Business, disagrees.
While Jarrell doesn't think investing in zombie stocks is a sure-fire profitable strategy, she doesn't consider it gambling either, because there is an expectation of gain. Jarrell also doesn't believe those who are trading zombie stocks are ignorant or unsophisticated. "To outlaw these stocks means that you've truncated an avenue for people to express their different risk preferences," Jarrell says. "If someone wants to go on that haunted trail, let them. It's not like they're taking advantage of people on the other side of the trade."
Washington Mutual and Lehman Brothers lost their standing to be listed on stock exchanges, so traders have to keep up with prices through a quotation service known as the Over the Counter Bulletin Board, which unsophisticated investors are unlikely to access. Other troubled companies, such as Fannie Mae, Freddie Mac and AIG, whose shares are widely considered to be zombie stocks, are still listed on major exchanges. The federal government's own backing of those companies weakens any argument against allowing individuals to invest in them, if they dare.
One project Jarrell assigns her students is to identify a publicly traded stock they believe the market has significantly mispriced. By definition, she says, the exercise requires the same calculation made by traders of zombie stocks--reaching a different conclusion about a stock's future cash flows and risks than that of the market.
Jarrell points out that all investments carry a degree of risk proportional to potential returns, and investors have varying tolerances for risk. Some hide from risk; others seek it out. She recalls a study some years ago that found striking similarities in the blood chemistry of day traders on Wall Street and jet fighter pilots. "It turns out they need a certain amount of danger to feel normal," Jarrell says. "They seek risk in order to feel comfortable."
Jarrell blogs about finance and economic issues at www.sherryjarrell.com.
http://pr-au.com/index.php?option=com_content&task=view&id=93360&Itemid=34
The deciding factor for me is going to be whether or not WaMu is awarded the $4b. Previously it was important, but now that the FDIC has threatened the courts power this, imo, is going to decide the outcome of the entire trial. Everybody knows if justice was blind WaMu would win, period. Even the bashers will acknowledge that. The problem everyone has is whether the government will be able to use their corruption to win. Well, that is exactly what they are trying to do right now. This threat is exactly what everyone was worried about even before it happened. Now that it has happened, the outcome will let us know THJMW's true agenda. If WaMu doesn't get the $4b, the only reason will be because of FDIC's threat. If Walrath succumbs to that threat she WILL do it again. If she doesn't, she will continue to uphold the law throughout the case imo.
I agree the twitter has good info, but unfortunately most people doing dd on this company aren't going to go by twitter, only by official PR's. If the CEO doesn't know that anyone is waiting on a PR he may think that using twitter exclusively is a better option.
Has anyone tried contacting Investor relations to ask about a PR? Pinksheet companies are usually eager to work with investors. Say you represent a group of investors and I guarantee you'll have their attention.
Investor Relations Network:
Tom Gavin
951-845-1112
Oh and btw the website in the ibox is wrong. It says http://mmaadnet.com/index.html but it should just be http://mmaadnet.com/ if you add the index part it doesn't work.
So was anyone lucky/smart enough to bring their average down to under a penny? Sitting at .013 avg myself.
Do we break .01 by EOD? Place your bets now ladies and gentlemen!
I agree, just responding to someone who said things we're laid out for us to run tomorrow. Don;t want people to get their hopes up. Btw, does anyone know whats set to be disputed on the 28th?
Hey everyone I just found a website that has some interesting statistics about this board. I thought I'd share it with everyone just for kicks. Apparently September 25th had the most posts ever with approx. 1,210 posts, and today was pretty close but didn't quite beat it.
http://boardreader.com/fp/Investors_Hub_Discussion_Group_68461/Washington_Mutual_Inc_2732685.html
I completely agree but that does nothing for tomorrow.
The FDIC threat is baseless, however, if people realized that then the pps should have never dropped, or at least gone up by the end of the day. I don't think people are certain of anything right now. What has happened between 4 PM and now that makes wamu's case any better? If the answer is nothing,then there is no reason to believe the pps will go up tomorrow based on anything having to do with the court. Personally I don't think it will drop much more for technical reasons, but I can't say for certain that it will go back up.
WAMUQ NEWS: Washington Mutual Jabs at JPMorgan over $3.7B in WaMu Cash
"(More to follow)"
came up on my etrade at 11:41
lol dude anything you say is in one ear and out the other, you're a confirmed basher and that's telling enough for me EOM
Ouch? More like WEEEEEEEEEE I already made a profit!
Just took a big loss to liquidate my other positions into WAMUQ... picked more up at .217
Who cares why they moved the money? It's their freedom to do it, and the only reason it caused a problem is because JPM stole the bank.
LOL WALRATH AINT TAKIN HIS BS!!!! HE'S ARGUING WITH HER!!!!
I like how while Weil is talking our stock sits stagnant, and while Cromwell is talking it shoots. He's shooting JPM in the foot.
Weil has a cool head I must say, to be able to sit there quietly through his bs
"Today we're only going to present the facts, we're not going to attept to misdirect you" - S&C
then a minute of silence... looks like they don't have any facts :)
"They're not even technically wrong... they're CLEARLY wrong your honor."
Objection of JPMorgan Chase Bank, N.A. to the Motion of Debtors Pursuant to Sections 105 and 365 of the Bankruptcy Code for Order Approving Procedures for the Sale of Certain Intellectual Property
http://www.kccllc.net/documents/0812229/0812229091021000000000002.pdf
you would be if it wasnt being manipulated... buys more than double sells right now... we should be flying. I'm guessing the pps will catch up once the mm's are full.
click on 'trades' at the bottom of any post to see buys and sells, delayed 15 minutes
EDITED thanks :)
EDIT: Oh and btw this wasn't specifically targeted at you, I hadn't even read your post when I typed it. Just noticing a lot of bashers today so I felt I should put my two cents in (since everyone lost two cents today... AHAHHAAHAHA... whatever that was funny). Honestly though, arguing is pointless because thursday is all that matters as far as the 4b goes and no amount of pumping or bashing is gonna change that.
What's funny is that all these people that are pissed off, if they sell, their probably gonna be stupid enough to buy again on the next high and lose even more money. You guys ever heard of 'don't jump on a moving train'? Duh the stocks not gonna just go forever, buying after a 100% jump anywhere in the 40's was just idiotic, and anyone who bought in hoping for a quick gain at that level deserves to lose money because they obviously don't know how the stock market works and shouldn't be trading. There's a thing called a risk-reward ratio, and even with the great opportunity this stock presents, buying it at .40+ would have been a noob mistake. If you miss the bottom on any stock, just find another stock (theres thousands of them for gods sake) or wait until the stock retraces. These levels have a very low risk/reward ratio, so its a good buy-in opp, but if you miss it DONT chase it past 30 cents or so (depending on how its performance during the next spike is), and if you do, don't take it out on the board because we will just laugh at everyone who lost money on a stock thats been in an uptrend for a year.
Bye 18 cents... it was nice knowing you... hope I see you again sometime... ON A DIFFERENT STOCK!
~Pork
look at all these orders going off under the bid, including a NLOD 18 cent print... anyone wanna try and tell us mm's aren't playing games now?!?
If you buy on the bid it counts as a sell. For you to buy someone else has to sell.
You think you're pissed? Wait until Thursday... you'll see the real definition of pissed from everyone who sold on today's lows.
I would agree if LEHMQ wasn't doing just as bad as us.
My theory is that everyone loaded up for the last omnibus in hopes of a 4b ruling. You can see by the selloff on very low volume that they are still holding. All of the big players from the last run are already in it and never sold at .44 because they know what WILL happen WHEN we get the money. Everyones already in so no buying, only selling.
If anyone tries to get more, place a bid one tick under the ask. Place it at .0074 so that we will have a tight .0074 x .0075 and we might get some buys. Also, then the person selling at .0075 might sell at .0074, and if ur buying more than he's selling the ask will go up.
Does anyone else notice LEHMQ is down similar to the way we are? imo thats why WAMUQ is down, no other reason. Easy money since we have the court date Thursday, perfect time to pick up cheapies without having to wait for a ROI. ~Pork
Just added more at .20... free money imo ~Pork
WAMUQ level 2:
Expect it to look even better before open.
If the FDIC refused to insure Wamu under the unlikely circumstances that they reestablished that would be another HUGE lawsuit.
Probably not. If anything, next Friday will be the last big Friday, with the court date on the (28th?). Don't expect too much other than the 4b as far as important things in October though, and don't even be surprised if that somehow gets delayed. The 22nd is just for the 4b; that is big, but not the end of the game unless jpm spontaneously settles, which they could do any time without any warning, but it's unpredictable.
...fine, they can have a lollipop... but its gonna be GRAPE!!! AAHHAHAHAHA!!!!
.0078 Ask was tapped at 4:00:46
Market close was at 4:00:00
Sorry, no lollipop for you.