Washington Mutual Preferred fka WAMPQ

[Wamook]

Shares are being bought!!

It looks like the shares that are being bought today are being carefully bought so as not to drive up the price.

I had a converstation on the board last night where I told some stock flipper to get off. Doesn't really matter if he was what I thought he was...a short seller,...But he fed me the straight lines and I gave him the punch lines.

If some idiot goes short on this stuff and it does pop for a grand a share, there's a big chance that some lawyer will come and take everything the guy has to satisfy the promise.

It's no skin when you short something at $2 and it starts trading at $5. A couple of thousand bucks never got any lawyer out of bed to go chase some short. But if a guy shorted a lot of shares at $5 and they went up to $500, he made a promise to deliver and it would be well worth going after.



People are going to play the game they have always played. You can't look down your nose at it. It's the way things are done. You do have the right idea about holding. In theory. But it's just theory. Practice involves some buying and selling to preserve the value of the money you want to risk in the stock. So don't just buy and hold with all of your shares. It's going to BE a long haul with a few ups and downs. So make them work for you.

In the first hour it's all buy side. Makers are two deep bidding at $3.75 and makers are in a line upwards with a few shares at each. Little resistance to upward movement this morning.

But the shares being bought this morning might be used to sell the stock down this after noon. You can never tell with a stock like this. Be Care full