Stock Alert: WAMUQ

[Sledge187]

Nice Avatar Sledge, but I still would stay away. The stock has doubled, time to stop being a pig and take the start up money back out of it and let the rest be. Your in complete and total speculation territory here.

Normally I would agree with advice like this but I did to much DD to just double my small investment. This thing may settle at $8-$12 a share. I will hire you as my body gaurd Rage and we can act like former WWF stars Ted Dibiase and Virgil.

[elgreco]

@Rixsaw.. the voice of reason

WAMU as a company no longer exist. WAMU has no assets, no income. This stock has no "real" market value. This is my understand, and I'm no financial/stock expert.

Sorry for being late to the party, but you hit the nail right on the head. WAMU is gone. This ticker is nothing but an empty shell of a company that once was. They don't even own their own name. Dead companies live on forever in the pink sheets even though they don't represent anything. The only people who make money on them are the market makers booking the ridiculous bid/ask spreads.

Sure this stock can go up, but the only driving force will be the hype generated by people who are looking to get rich quick and have no understanding of underlying value. But its all smoke and mirrors and someone will be left holding the bag of hype. Any cash this company gets is going straight to its creditors (bondholders). If they actually had the capital to overcome their debt, they wouldn't have gone under in the first place.

This thing is dead. Sure the dude who started this thread caught a double so far, but he could have done the same thing picking a ML dog, understood what he was doing, and had more fun doing it.

[elgreco]

Normally I would agree with advice like this but I did to much DD to just double my small investment. This thing may settle at $8-$12 a share. I will hire you as my body gaurd Rage and we can act like former WWF stars Ted Dibiase and Virgil.

You cannot be serious. This stock has a 1.47B share float! You are estimating a 15b+ market cap on a ticker with no underlying business.

Lets think about this for a second... 9B in assets, 90B in debt. Anyone with half a brain would let it die in bankruptcy and pick up the pieces for pennies instead of trying to crawl out of that hole.

Enjoy the ride man... personally, I'd go play some poker with that cash... at least you'd know the game.

[elgreco]

Sorry.. I just realized my numbers were from the last reported quarter (Q42008). Lord knows what they are now since they don't have to make SEC filings.

[Sledge187]

Sorry for being late to the party, but you hit the nail right on the head. WAMU is gone. This ticker is nothing but an empty shell of a company that once was. They don't even own their own name. Dead companies live on forever in the pink sheets even though they don't represent anything. The only people who make money on them are the market makers booking the ridiculous bid/ask spreads.

Sure this stock can go up, but the only driving force will be the hype generated by people who are looking to get rich quick and have no understanding of underlying value. But its all smoke and mirrors and someone will be left holding the bag of hype. Any cash this company gets is going straight to its creditors (bondholders). If they actually had the capital to overcome their debt, they wouldn't have gone under in the first place.

This thing is dead. Sure the dude who started this thread caught a double so far, but he could have done the same thing picking a ML dog, understood what he was doing, and had more fun doing it.

How long did that take you to find? 5 minutes? Do some DD and maybe you will find yourself a little more educated because from your post you have no idea what your talking about. Stick with your ML dogs and I'll stick to this lotto ticket called WAMUQ.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47486075

[elgreco]

How long did that take you to find? 5 minutes? Do some DD and maybe you will find yourself a little more educated because from your post you have no idea what your talking about. Stick with your ML dogs and I'll stick to this lotto ticket called WAMUQ.

http://investorshub.advfn.com/boards...ge_id=47486075

You are right, I did only spend 5 minutes looking at your broken stock. I've been in this game so long that I just assumed it was the same story as all the rest of the bankrupt pink slip stocks. As long as you understand its just a lotto ticket, then have at it.

If you'd like to discuss the underlying stock, I'm down for that too. I just don't want anyone to think they should actually put real money in any of these stocks, because Nets have a better chance of beating the lakers in a seven game series than this stock has of going anywhere but zero. (Anyone wanting to learn more about actual investing as opposed to speculation should read up on Benjamin Graham or Peter Lynch)

I read the post... What the heck is this guy trying to say? Is there precedent of any of this? The FDIC seized WAMU, sold it, and now the courts are going to repossess it & fine JPMorgan on top of it? I understand that people may go to jail if fraud was committed... but I don't see how they are getting 52Billion in assets back into WAMU coffers.

All the current news articles I am reading have to do with one deposit account valued at 5-7B. And the only reason WAMU has a chance with that is because they are claiming it is essentially their savings account. Those same articles claim that JP and the FDIC have 40B in debt they can hang over WAMU's head.. so I still don't see the value here.

I also can't find any concrete numbers on current share float, but I still bet its close to the figures I gave in the last post. If it is that high, an $8-$12 price level too great of a market cap for a company with nothing other than 7bil cash and so much debt.

I look forward to discussing this further if you'd like. If you have any blogger links to add, I'll read those too. If not, good luck anyway...

[tltaylor89]

No demand for this tock what so ever better off buying GM we laugh on the trading floor when orders like this come in easy $30 commission on youre market order.Then we knock it down do you can sell it for another easy$30 in commissions.They we bump it back up a few Micro pennies so the next sucker can give us fee money.

[Sledge187]

LOL, you guys are haters. I only posted this to share with my fellow degenerates. I like to share the love with my hood rats. Everybody knows penny stocks are risky investments so do your DD and invest form there. We opened this morning at .699 so I'll enjoy my rollercoaster ride and you guys enjoy your glasses of haterade.

[RageWizard]

I'm not hatin Sledge, and I still wouldn't touch this stock with any money. I'm telling you take your profits before the ruling breaks. Now your at triple your start up cost, my advice is if you really think that 8 -12 dollars is possible, is to take your startup and a little bit more and let it go. I fear that the previous poster is right the market guys on the floor will just move the stock up to make a market for this stock, and then for no reason, they will pound it back down. A good look at the bid and ask for a stock will show you what the specialist is doing with the price. Well as I look at how it did today, I see that it opened at $0.70 but then headed down to close just losing $0.06 on the day on heavy selling volume. Seems like getting out is the play. The daily chart shows how the game is being played, and it doesn't look too good for you to hold. But do what you must.

[Sledge187]

I'm not hatin Sledge, and I still wouldn't touch this stock with any money. I'm telling you take your profits before the ruling breaks. Now your at triple your start up cost, my advice is if you really think that 8 -12 dollars is possible, is to take your startup and a little bit more and let it go. I fear that the previous poster is right the market guys on the floor will just move the stock up to make a market for this stock, and then for no reason, they will pound it back down. A good look at the bid and ask for a stock will show you what the specialist is doing with the price. Well as I look at how it did today, I see that it opened at $0.70 but then headed down to close just losing $0.06 on the day on heavy selling volume. Seems like getting out is the play. The daily chart shows how the game is being played, and it doesn't look too good for you to hold. But do what you must.

I wasn't talking about you Rage but yeah from what I was reading Pink sheets are risky. That said the gambler in me can't sale this stock. The court ruling is Friday so I am going to ride or die on that day. I posted this not to brag about my small profit but to help my fellow gamblers. I love you Rage.

[tltaylor89]

You would be better off buying (C) call buying off the charts today along with BK. (C) could be at $10 if the gov decides to sell their position.

[elgreco]

Did you get out Sledge?