Washington Mutual Preferred fka WAMPQ

[VivaLasVegas]

There seems to be plenty of cash already in the A/L with so many unknowns. The commoners are getting nervous and some will bail and buy PQ's. Only 3,000,000 in the float and those are pretty much in solid hands. MM's playing games and some tax loss selling has been taking place.

I personally feel the Assets are stacked in PQ's favor.
I don't think the common is horrible either, I will continue to hold those as well, but my real feeling says PQ's get jiggy come this week and then into 2009.

I also feel that with all the QUESTIONS regarding the JPM/GOVT seizure you're going to see some BIG DOLLAR SPECULATOR ENTER THE PICTURE BECAUSE THE POTENTIAL RETURNS COULD REALLY PAD A DYING HEDGE FUND INDUSTRY.

We'll see but let me just say, in my opinion, this play is quickly approaching RIPE. Bashers think it's spoiled, but that's what they get paid to do. It's a job for them, it was either that (internet message board basher) or hand you your drive thru sack.

You may also attempt to decipher the Garrydenke Yahoo WAMUQ posts when you have time.

Cheers