Momentum Players

[marayatano]

WAMU Short Squeeze Play (I am not very good in articulating into words, please forgive me if sounds like rambling)

Wamu has a hearing on Nov. 14, 2008.

Quick Summary:

Brandes Investment Sold Restricted Stock through Goldman Sachs on October 20, 21, 22, 2008 (Look at the charts on those dates and you will notice that the PPS PLUNGED). The amount sold was approx. 33 million shares of WAMUQ from 9 cents per share all the way down to 5 cents a share. Today's share price is 6.2 cents. Brandes is asking Wamu to unrestrict the stock sold by Brandes. Wamu says "no" and fires Transfer Agent. So basically there is no one to unrestrict the restricted stock Brandes sold through Goldman. Brandes is now SHORT shares. Brandes has brought a motion to compel Wamu to unrestrict shares originally sold on Oct. 20, 21, 22, 2008 and since Goldman wants unrestricted shares certificates delieved to Goldman by Dec 1, 2008.

Monday will be Nov. 10, 2008. Nov. 14, 1008, Friday, (the HEaring date) is one week away, which there will be a hearing on 4.4 billion going to Wamu and I believe NOL motion (might be more going on that day). The daily volume of WAMUQ is now about 10 million. Since Brandes is short about 33 million shares, it will take 3 1/3 days (need to cover by Nov. 13 before the hearing on Nov. 14) to cover assuming they are the only buyers. Thrown in the "Momentum Players" competing for shares, I think you guys can force a cover the 33 million short. Also, next week is Veterans day so I am unsure if the float/daily volume will be thinner due to holiday.

Also, Vanguard Group recently bought about 27 millions shares:
http://www.mffais.com/wm.html

Below are links to the motion and original posting on IHUB.

http://www.kccllc.net/documents/0812229/0812229081107000000000013.pdf

http://www.kccllc.net/documents/0812229/0812229081107000000000014.pdf

Brandes Investment is SHORT and NAKED 33 Million SHARES!

Can this be true? Am I reading this pleading right?

Brandes, on behalf of certain clients, owns RESTRICTED Wamu shares since early April'ish 2008.

Recently, October 20, 21, 22, 2008, Brandes enlisted the services of Goldman to liquidate said stock under the ASSUMPTION that these are freely tradeable (WITHOUT ASKING WAMU TO REMOVE THE RESTRICTION). BAD MOVE. Share were sold short on the above dates at the price of approx. .09 all the way to .05. (Do you guys remember the days the PPS took a plunge? This was the reason!!! Now we all know why).

Goldman now wants the certificates delivered to Goldman w/o RESTRICTION. Guess what, Brandes sold SHORT and now is naked because of the "T" + 3 delivery has passed.

Now why does Brandes want an EMERGENCY order? Because we have a hearing on Nov. 14, which will (may) propel the COMMON stock, WAMUQ, way up once the Judge orders the 4.4 B to Wamu Holding. This will result in a possible short squeeze since Brandes is SHORT and NAKED (no shares to cover the short UNLESS Brandes purchases from the open market, the Restricted share they are holding now are USLESS). Can you say MARGIN CALL>??????? (Brandes is short from 9 cents all the way down to 5 cents. Look at the chart on Oct. 20, 21, 22, 2008.) http://finance.google.com/finance?q=OTC:WAMUQ

MARGIN CALL AND SHORT SQUEEZE.

I will not be surprised if these is a hedge fund out there that will exploit Brandes' short position to make a shit load of money.

HOW CAN BRANDES BE SOOOOOOOOOOOOOOOOOOOOO STUPID TO PUBLISH THIS OR EVEN BRING A MOTION SO EVERYONE WOULD KNOW THAT THEY NEED SHARES? If they were smart, they should have bought back the shares quietly and then filed the motion to get the restriction off. STUPID, STUPID, STUPID !!!!!

This explains why GSO was on the bid so often. MIght be trying to cover the short.

All is an opinion. Please correct me if I am wrong.

Unedited for grammar and spelling.

EDIT: I have not read the entire Motion, it is way too long for a person, like me, with a short attention span!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33424978