Washington Mutual Preferred fka WAMPQ

[steved_45]

I can't believe this is still trading under $40/share-especially after the FDIC's filing. I think volume is too low to get more speculators back into this. If volume picked up to the 15,000-20,000 share range, then I think it would be enough to uncoil the spring, otherwise the 500lb woman will continue to weigh this down.

Are common holders waiting for the U's to go back up into the .20-.25 range to move into preferreds?

I would think there would have been more of an exodus from U's into pref's over the last couple of weeks that would have driven up the volume.

Thoughts?