Who are you here to save?
Its actually really simple if you think about it.
Those traders who are at least half way competent will have done at least a little research into whats going on with WAMU and the potential for both positive AND negative circumstances that could happen.
Those traders who are dumb enough to buy a stock just based on what a bunch of anonymous posters say on a message board, bear the full responsibility for doing so. In other words ... if you lose money IT IS YOUR OWN DAMN FAULT.
Its a balancing act, the extreme pumpers are counteracted by the extreme bashers. Somewhere in the middle is where you will find most people. I myself and pretty skeptical of the future of common shares POST bankruptcy for a number of reasons. HOWEVER I simply cannot discount the fact that often times especially in the pinks people feed off of momentum and otherwise lacking fundamentals. That being the case, the amount of interest and the buzz that could potentially grow from simply a court judgment in Wamu's favor no matter how small or trivial, cannot be ignored.
All that being said, I obvious don't believe that Q's would ever see $12-$24 that some people are saying. I do believe however that with even modest positive news from the company, this stock could easily go up to $0.47 (current book value) - $1.00. Do the math on that and you can see that the opportunity for a 400 - 1000% gain from current prices is well worth the risk. Its certainly better than looking around for a death spiral triple zero stock.
So again I say... who are you trying to save? If you don't like the hype that some posters have then respond and refute but do so with at least some backing to the statements. Its very easy for anyone to say a stock is going to lose value, if you say it enough times eventually in the pinks, at some point you will be right.
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