If you are on the side of the fence that tomorrow will bring forth the outcome of either a positive court ruling or a settlement before any court ruling then this AM, IMO, will be the opportunity to open a position or add on in WAMUQ.
If you do not believe that the outcome for WAMU will be a postive outcome then don't get in because today's trading IMO will drive you crazy with fear further doubt and probably poor decisions.
IMO this whole week regarding the WAMUQ trading pattern and activity has been MM window dressing that will come to a final conclusion tomorrow.
IMO this week's trading range this week .34-.70 has been driven by the MM's to create the one element that the MM can control.......mind games with the retail street.
Which ever way tomorrow goes, big $$$ are at stake and on the table, the MM's know this, JPM knows this, the FDIC knows this, WAMU know this, the EC knows this, the WAMU shareholders know this. Tomorrow will be the start of payday for one of these parties (WAMU-Shareholders and JPM, FDIC MM's on the short side).
I've been on this ride for awhile, I'm in and not willing to let these pre-moves bump me out before the beginning of the final act.
Kels
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