wamu, bottom picking (or "I like pain")

Discussion in 'Stocks' started by Chood, Feb 28, 2008.

  1. Chood


    I'm looking for trenchant analysis of when (price wise) to buy Wamu, knowing that bottom picking, armed with only what I know now, isn't the best idea.

    I know something about the company, enough to be interested. But need more. Any ETers up to it?
  2. i would buy at the january lows, if they are retested, its would be a triple bottom, 12.00 - 12.50 area
  3. Chood


    Thanks for the reply.
  4. S2007S


    Forget WM, go with XLF or UYG.
  5. WM and C are on my radar again. I actually traded WM both long and short a couple weeks ago in and out on 2-3% moves on block trades. It has a nice range usually.

    Personally would like to see Cuomo rip them a new ass again before going in.

    The day is coming to make a play on financials again probably around pump and dump FED time. A better play might be XLF on the financials for the next sucker rally. There might be a sneek attack rally on financials coming on some BS fluff...

    A retest of lows would be nice. It might be CFC all over again so be quick and nimble.
  6. Chood


    Excellent entry measured intraday today. I'm still on the sidelines and may regret not acting today on your advice.
  7. ==============
    Jan 2008 lows which are 1998 lows also can go down to $10 area;
    not likely i would want to be early long in a class action lawsuit infested - downtrending sector,
    course thats just me.

    WM does , [at this time] have some but not all of the class action suits like C, CFC, but sell volume is averaging higher, for sure.:cool:
  8. dsq


    the california real estate implosion has barely just begun-only down 17% in 7 months.Avg price here in LA is 470k.Avg salary 48k.Avg downpayment 75k...Wamu has a lot of cali exposure.A complete mickey mouse operation.Single digits easy...
  9. Chood


    Patience is paying off. Of course, I'm waiting chiefly because I'm largely clueless. Luck favors the dumb and the brave, it appears.
  10. ElCubano


    you gotta love this guy....ill be watchin'
    #10     Mar 6, 2008