Washington Mutual going under:

Make sure you are on the right side of this trade. It has formed a perfect triangle and should break out pretty soon. My guess is it will break to the upside.

 

BINGO! Bloomberg just reported 5 billion finance rumor. Let the games begin.

 

http://www.reuters.com/article/ousiv/idUSN0739555320080407

U.S. private equity firm TPG and other investors are near a deal to invest $5 billion in Washington Mutual Inc, the Wall Street Journal reported on its Web site, citing people familiar with the matter.

The other investors include large shareholders of the Seattle-based lender and may also involve other buyout firms, the Journal said, but noted that an agreement was yet to be finalized.

According to the report, the investment looks like it could be both a common- and preferred-stock offering, the report said, adding that the preferred stock could be later converted to common shares, subject to a shareholder vote.

Also, TPG is expected to get a seat on the company's board.

 

GRRRR. 11.20 PRE-PRE market.

Think I might have to avoid this trade all together since I wasn't on the take late Friday afternoon to load up at 10.20.


Feels like another sell the news event. I dare not enter the vortex on this puppy. Too much media attention now. The bounce to the upside on a gap up just lost its luster for me.

Could be an ideal situation for Charlie Gasbag to manipulate this like ABK.

 

if you believe its a "sell the news" event, maybe today's a good day to enter a short.

I doubt this injection will be enough to set the stock back on the right path. A firm injected MBIA with 500 million when the stock was at 30 (its around 13 now). Even investment firms make bad calls. But then again, there is an overall better mood in the market lately.

 

Wow, 12.30.

I doubt this is gap up and runner runner. I am avoiding it today I think.

It's entering its death trap range soon.

 

HMMM, 12.09. I feel a Charlie Gasbag reversal at 3:30 on a negation of 5 Billion BS rumor.

 

:eek:

 

im considering entering a short position today after closing another trade. however, because of the volatility lately, im reluctant to pull the trigger.

 

They are really chasing the dragon on this one today.

All I know is the higher it goes, the more she will fall next week.