Washington Mutual Preferred fka WAMPQ

[dylyo]

buyer beware

one thing I learned my 1st year of investing was

beware when everyone sees a positive outcome or

the risk is well worth your life savings


this is starting to play like that kind of scenario

I am getting worried that the pumping of Wamu stocks on yahoo/google/ and Ihub is getting out of control

Why?

I just do not see enough warning from the many many holders who are pumping this thing up

Do I hold?

Yes

Will I sell?

Did already (not all of it)

Made my buyin back

Will I buy back in?

yep

is this the opp of a lifetime?

doubtful

bk stocks are bk stocks

they get life afterwards

then the honeymoon ends

prospects of a knight in shining armor fade and the shares become worthless because no one trades them anymore or the company emerges from bk and the shares are worthless


and sorry

I dont see JPM paying crap for anything the government wont make them pay for

they did get a steal of a deal at 1.5 bil

and they have a history of getting away with ripping off other companies they have been in business with

just look at all the JPM lawsuits

buyer beware

so why are so many people on the Wamu bandwagon?

because it has national attention and many buyers are coming in from the other exchanges and normally dont trade pinkies

pinkies are mostly scams that have heavy traffic for a short time and either get diluted to death then RS'd or just stop trading all together

thousands and thousands of pinkies end up this way and will continues to do so

remember one more thing - this is one desperate economy we are living in and no end is in sight

with that being said expect the heavyest pumping ever because even the heavys are getting pounded by the hard times


am I saying dont trade Wamu?

nope

I dont give trading advice

I give my opinion based on my experience and every fiber in my bones says this is going to turn in on itself before the year ends because there will be no clear outcome before years end and the court dates will go on and on and on

buyer beware