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I am so frigging happy tonight that I can't even sleep. I saw that this hit $8 AH, and I have held onto the shares I bought last week ever since it fell back to $6 flat. The amazing part is I had a stop order placed at $6.85 today since I thought the market was going to send this tumbling back down to the mid 6s, and THANK GOD the stop never got taken out! Happy days are here baby!!
I mean if we look at this from a longer term perspective, I honestly believe this company will survive, and shares will one day be back to trading around 10 - 12 dollars again. I'm not really the bag holding type, but I could easily see this doubling from here within a year from now.
I think it's going back to at least 5.60 by next week. Too much selling volume on this today in the low 6's which leads me to believe investors are still not comfortable with it being this high right now.
Also Ambac is on the verge of bankruptcy now and that scares investors away from this sector. The explosive rally MBIA had on Wednesday thanks to BAC's announcement was pure speculation and little else. There's still concerns about MBIA's health in the future, and this news from ABK didn't help that picture. I'd rather be short this stock right now going into next week than long, especially after it had such an over exaggerated pop.
On the other hand if the market continues its upward climb in the coming weeks, MBIA probably will not get left behind, so I'd say there's a possibility it could crawl back to 6.5 in April.
You do realize that even if you do waste your time and request a loan exempt restriction from your broker, you still have thousands upon thousands of shareholders who do not make this request and will not do so. So the laughable amount of shares you own of a stock (you're a retail investor which means you probably own less than $100k worth of that stock) isn't going to do anything to stop millions upon millions of shares from being shorted all the time. And I'm not just talking about this stock, I'm talking about any stock in general. You're wasting your time.
You really think I was going to "believe in my investment" when it came to a pinksheet penny stock in chapter 11? Of course not. It was only going to be a quick flip because none of you nor myself could have possibly known back at the beginning of March if WMI was going to prevail or just end up liquidated. Oh well...you win I lose
I can't believe this hit 40 cents. I stopped trading pinks after getting nowhere with this one, but I remember back in March I gave up on this after I failed to get in below 3 cents. I think I was trying to see if I could get in in the 2s, but missed out. Then after that I gave up. If I hadn't given up and gone through with my original trade, just settled for a penny more, and held till today (or yesterday), the amount I was going to invest would have yielded over $200,000. Of course, back when I wanted to make that trade, I probably would have dumped it as soon as it doubled or tripled. At the time I thought it would impossible for this to ever find its way back to 10 cents. Then suddenly, I find out today it's at 40 cents.
Missed an opportunity of a lifetime.
It's over with now...but I'm just curious. I stopped following the Wamu situation back in spring. What happened? Are they finally going to win?
This stock was at .02 several times actually, and yours truly missed out each time. I can tell you what happened each time. It got down to .025ish in March, it was at .02 last December, and of course the day after Wamu was seized.
Right after the seizure it hit 2 cents or so and then shot up for a few days, and then steadily fell for months for the rest of 2008. I bought in late after it popped unfortunately and averaged down to about 8 cents.
Then all of a sudden one day in January it pops to almost 8 cents when it was at 2 cents just days earlier. We were all excited as hell because we were so used to constantly seeing it drag down, and I was convinced this was headed for liquidation last year too. When it was 2 cents in December I really though it was going to fall to .01...and not buying at that point was understandable because who would have known the falling would suddenly stop a week later, after it had been going down for 4 months?
After the Jan pop it went back to it's usual trend of constantly falling, so this time I set aside a bunch of money and I was making sure I got in at 2 cents before the next jump. Unfortunately for me it only made it down to hit 2 and half cents in the beginning of March. I was a greedy fool and refused to place orders above .021 or .022 since I was "certain" it was going to hit December's bottom again..but it just never did. By the time I decided I'd settle for .026 or .027 it was already at 3 cents and I just couldn't get in. I finally jumped back in though around the mid .4 cent range, but with nowhere near the amount of money I was originally going to dump into this, then got out the next week 6 cents and recovered the money I thought I had lost back when I bought in around 10 and 8 cents. I was happy that I recovered the few thousand I had dumped into this after the seizure, but I was incredibly let down and angry with myself for being a greedy prick and not getting in at .025. I would have made a killing after enduring all those months I spent regretting I had ever dumped money into WAMUQ...that wasted time would have actually been worth something...because I would have made about 100k. I mean look at where it is today. Oh well...
I have lost money and missed out on major opportunities by assuming what previously happened with other pennies will happen with the new one I'm in. Each one of them in my opinion is a unique animal and you really just never know what's going to happen with them.
I transfered some money into the broker I use for buying penny stocks just to get into this one some time this week. Looks like this is having trouble holding 1 cent though. Really wish my funds had cleared today...would have been nice to get in at James Bond...then again when my funds clear this could be at 005 so who knows. I've already mentioned this yesterday, but I truly believe this penny is going to have a huge run this month.
I was somewhat pissed when I noticed the stock was available for 5 cents about 3 minutes after my order filled. I was expecting a dip this week but never would have imagined it falling that hard this morning. After it recovered I had a sigh of relief..I mean it's pretty intense to watch yourself lose almost half your investment within 5 minutes of buying in...I don't think I got it at a bargain though because it was trading in the 8 cent range for most of the day. I'm pretty optimistic that this will be in the .20s or so this month with the right press release, but I won't be greedy and I'll just get out when I'm close to doubling. Pretty fair for someone who got in this late, but damn...wish I had that order in there for 7 or 6 cents today. That sell off was like a car accident...it happened so fast you really had no time to react or think.
Put in a limit order to buy 5k worth of shares at .09 today that got filled at .08 heh! If this can make it to .16 this month I'll be very happy
This one could have a run like BEHL had last week now that the volume is starting to heat up. I personally wouldn't be that surprised if this hit 5 cents within a few weeks
It's already pulling back closer to today's open price. Falling back to the 12 cent level now...people can't resist the profit at 13 - 14 when they've been holding this since it was at 2 and 3 cents. I knew there would be selling at this level, which is why I'm waiting for it to go back to at least 10 cents or so before I consider jumping in this week.
It's too late for me to get in now in my opinion. This ship has already sailed. I do see this selling off at some point this week though. Not sure if the profit taking is going to show up on Monday...but I'm expecting this penny stock to end its run this week. Maybe after a pull back I'll consider getting in.
Let me ask you something...what exactly prompted you to dump 10k into this stock at .001 back in April? That is what I am curious to know
The numbers CIT is going to show us on Thursday are probably a significant part of the reason why they were a day away from Chapter 11
I'm actually excited about this now because there's about to be yet another new fallen bank to flip in the pinks!
I thought they were sold for 900 million
Anyone know what the new symbol will be for this stock on the pinks? I can't wait to buy this when the dust settles
Congratulaions to all of you guys who held this long. I haven't had a chance to read through the posts on this forum today, but the only people I really wanted to hear from were those of you who took significant loss back in September and managed to average down from then till now and finally made all/most of your money back today. Any of you?
To everyone else...you lucky pricks...
This thing has been pretty dead ever since the suit was filed but I got an alert about the PQ today and was also curious about what happened but was too busy trading around market earnings to stop by here.
Turns out we celebrated way too prematurely. I dumped my shares at .058 today cause I doubt this support is going to hold with the volume already drying up so soon. Can't believe the lawsuit news didn't do enough for this. Maybe I'll take a long position when it gets back down again. In the meantime there's money to be made elsewhere for now.
ROFL that made me crack up
The rally to 10 - 25 cents everyone was ranting and raving about this weekend doesn't seem too realistic anymore for this week.
This is a little disappointing. News was everywhere during the weekend so the "lack of tv coverage" is not a decent reason for this. I honestly thought it would have been at 8 cents by this point in the morning so I could have at least doubled up from last week. It's either being held down by MM or big money (or both). Anyway I called in late to work this morning but this doesn't seem to be gapping as expected so...time for me to get going.
Haven't been able to get an order filled all the way up to .067 and cancelled. But now I see it falling from .065
Either MM games (likely) or the market just really doesn't give a damn about this lawsuit.
I just hope you guys didn't end up staying up for nothing tomorrow. See you in 6 hours
If they come out of bk, the debtholders usually end up with the new shares of the company and the old commons become worthless. You really want to see some type of settlement from this suit they just filed. Just wait and see what kind of momentum the lawsuit news brings here this week, so you can get an idea of where the pps could be heading later if this plays out in WMI's favor.
Nothing has happened to the pps yet...so it's far too early to congratulate people and pop the corks. Wait another 35 and a half hours
"...Nor would the stockholders, who own shares in WMI, likely see any money, regardless of how the suit plays out. They are at the end of a long line of actual and potential creditors, all of whom would have to be paid back in full before owners of common stock could get anything."
WMI isn't seeking to undo the seizure. That wouldn't be feasible nearly six months on, said veteran banking analyst Bert Ely of Alexandria, Va.
WMB is rapidly being absorbed into Chase, Ely said, and "there's no way in hell you could unscramble that egg."
http://seattletimes.nwsource.com/html/nationworld/2008901799_wamu22.html
I just found those two quotes amusing from this Seattle Times article you've probably already read that was just updated.
One of the top 3 headlines on Google News under the business section right now as well.
But honestly people, the only thing I'm concerned about at this point in time is how much momentum this piece of news may bring here and what this thing will be looking like about 38 and a half hours from right now. Stop worrying about whether there will be a settlement, if this will be dragged out over years, or if it will be thrown out of court, and just focus on where this thing is (and isn't) heading this week.
Like bopfan mentioned on the yahoo board, the MMs are going to have a field day with this one this week so be prepared. Have a nice weekend.
Let's see if this news can even get this thing past 10 and 20 cents first at the beginning of the week. Then worry about the rest later.
Personally I doubt that this is going to jump as high as people are touting here on Monday. If it even manages to reach 8 cents on Monday I'll be impressed.The volume from earlier this week seems to have dissipated so far this morning. If something actually happens that positively affects the pps on Monday, it'd be the first time in months that a court event actually did something good for WAMUQ. We'll see...
Bet you guys didn't see that one coming
Here's a clue: this was just another pump and dump by big money. And they all seem to be bailing out right now. About 10 minutes ago someone just sold 50 grand worth of shares at 5 cents, and ever since it's been sinking.
Both LEHMQ and WAMUQ are falling right now. Someone's dumping both together
That's exactly why I think it's just another big money pump and dump and everyone here is just getting too excited. It's understandable though...it's the first rally since January. Hopefully I'm wrong...time will tell
LEHMQ and IDMCQ are also seeing nice rallies at the same time as WAMUQ, which leads me to believe the upcoming court date has nothing to do with this rally we are seeing. It could just be another pump & dump of all the bankrupt financials like in January so I think you guys should calm down. I still hate myself for not buying last week but hindsight is always 20/20...seriously thought it was going lower than .02 this time. Oh well
One of 3 things will happen. It will close lower, stay the same, or close higher.
I can't even look at the pps anymore cause it just hurts too much. Any of you get in last week in the mid .02s? A bunch of other Q stocks are also up today including LEHMQ