Exactly, and for a number of short term (day traders) traders the signal to sell or from my perspective an opportunity to trade another turn position as a means to build up an overall position in WAMU.
If these games are going to be played by JMP and the FDIC causing this day to day emotional trading up and downs of WAMU, then why not try to capture these moves as a means to either increase one's position or put a few more $$$ in one's pocket?
IMO this type of trading is all based on one's tolerance