Replies to post #32723 on Washington Mutual Preferred fka WAMPQ

[Kristallweizen]

If we break $17 today something is most likely up IMHO

[marayatano]

I see what you are saying...

If you "search" my post history on the P board, there was a pleading/filing I posted where one of the HF (or entity) accumulated WMI securities from a certain date to another date.

If you compared it with the chart on those dates, you will notice that while the entity accumulated, the PPS traded in a channel or hardly moved.

Once all the sellers dried up, the accumulator has to raise its BID for the security. Same goes for the Ps. Sellers are drying up.

Flippers keep the Ps liquid.
Good night, it is bed time for me.

IMO