WAMUQ today vs. LEHMQ analysis I was very surprised and impressed with WAMUQ today, and wanted to analyze its track in comparison with LEHMQ.
1. Today's volume WAMUQ = 41.6MM vs. LEHMQ = 73.3MM. There have been two major events YTD with comparable daily volume: early January after everyone bought back into positions after claiming tax losses for 2008, and late April, which we now know coincided with the failed settlement talks and big players gobbling up WMI securities. These events peaked at 90MM and 87MM days, respectively, and were both preceded by the kind of volume we saw today. PPS gains were similar on both occasions. Contrast with LEHMQ, whose two previous peaks coincided with WAMUQ but never broke 40MM in volume.
2. WAMUQ PPS vs. LEHMQ. Today's chart shows a distinct movement beginning after 1:00pm, with prices weaving around .105 (its usual MM-induced behavior). To wit, LEHMQ begins its ascent at the opening bell and never drops below yesterday's close. It strikes $0.06 an hour before WAMUQ's action with 1MM volume.
I am thoroughly happy with WAMUQ's achievement today and do not believe we are simply riding LEHMQ's coattails. I neither advocate nor admonish flipping as we are all here for different reasons, but I hope everyone at least has a strong core position for the big finish. Thank you rramirez82 for replying and GLTA!
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