Yeah, ABK fucked me up last week. That trade pissed me off cause it opened at the dilution price of 6.75 and rallied back to that BS after hours move to $9-$9.50. I made that stock my bitch on the Gasparino pump. I got cute and got back in and took the hit: For me, those bond POS stocks like MBI and ABK are not juicy anymore and played out and am avoiding them. You can't win them all.... I don't know how much longer this WM range can stay this way and reminds me too much of CFC and the ABK range before she finally caves in to single digits. Who knows what kind of rally up they will bring on Tuesday Fed pump and dump rate move. I'm hoping for some red Monday before I position myself for the sucker rally to sell into Tues. so have some gunpowder on the sidelines. 03/06/2008 09:56:24 Bought 1000 ABK @ 8.17 -8,179.99 03/07/2008 11:28:36 Sold 1000 ABK @ 6.88 6,869.93
Okay guys, I want this this company taken under. I didn't play it today. I feel they are gonna eat a fat one. I am thinking of shorting the the ever living shit out of it soon. I am waiting for a follow through tomorrow to over $11. I will view it has a gift short entry. Should I just avoid the scalps and buy some 7.50 puts instead? Anyone feel they are going under. These assholes have a high divi still that needs to be eliminated. Toxic loans on the books. GS downgrading them, Moddy's cuuting them to junk, etc...Is the writing on the wall. I want them to turn into CFC.
Yes, I know...I watch this one closely every day. She dumped hard at the open. I am going to beat the shit out of it soon.
I've been watching this too. How do you know it won't go to 15, kinda like how it went from 10 to 21 a few weeks ago?
It might and you never know. I won't be in the trade that long anyway. I think Cuomo wants to rip these guys a new ass. It went that far last time on JPM rumor. It went from $10-$12.60 in a flash last week on buffet/GS infusion rumor, etc. Its really the same pattern as CFC. Toxic waste they are. Whatever, its just a trade...It will have its wild swings....
wm is an idiot entity...they have huge exposure to crappy loans here in the the biggest real estate bubble area of the nation.My opinion here is purely that,however the REAL estate market here has only pulled back17%...I know illegal aliens like gardners,who bought shoeboxes for 600k with no money down arms....wamu catered to this crowd here in LA....Foreclosures and short sales are everywhere...in fact i think very few people who want to sell but arent being forced to,wont because they have to compete with foreclosure properties....ITs going to be a friggin nightmare scene here in a few months.This will kill wamu and maybe bac. Doom and gloom yup.You should see what insane home prices are here for 1000sq ft dumps-600k!!!!...The prices have started to panic plummet in the last few weeks but we are at the beginning of this mess.The beginning.There are no buyers...I know short sale house that has been sitting for 4 months!!!The bank is asking too much and no buyers...No kidding the bank wants 20% down.Dont they even understand their own rules?The banks refuse to accept low offers -they are sticking to their guns-til the end.They are delusional.I think wamu is infected with delusion.They are bcs,cfc whatever.A basket case.I beleive wamu has terminal financial cancer.