Washington Mutual Preferred fka WAMPQ

[Wamook]

They are obviously aiming to buy and sell the most shares that they can. So they are moving the price down to accomodate buyers, and profit takers. It's fine so long as you know how to say sell.

There is a basis for the reasoning of taking the price down. The PQ is convertable. It became hot when the price of a common share made it worth six times it's market in conversion. Now that 115 share multiplier makes it worth about three and a half. While the common is dropping this stuff is going to be dropping too. For Now. No one has proved that there are assets left over to give the equities. But no one is working with real numbers and a real schedule of assets yet.