if you bought the stock for 2 and are thinking about getting out at $4 for a 100% gain take it the ban on short selling is up Oct 2nd. Or like the fellow said before do the free trade by selling half your shares and letting the other half ride. WAMU is done as a bank
Compulsive //////////////////////////////////////////////////////////////////////// Quote from Ivanovich: You're just trolling now. Stop trying to antagonize him and either answer or leave him be. -------------------------------------------------------------------------------- I did answer him Ivan , he didn't like the asnwer ///////////////////////////////////////////////////////////////////////// Then that is all you have to say/write. Stop capturing and pasting the same darn(sp) thing. I try to have a plan each day, but I don't just blindly follow a plan that either before the market opens or shortly after shows me I am wrong. Recently the changes have magnified but since Jan. there have been so many changes. If you don't adapt and adapt quickly you'll loose money in most cases. Having a plan doesn't mean guaranteed success. Sometimes you have to shoot from the hip as setups appear. don
Flyonthewall: Toronto Dominion joins others as potential bidder for WaMu-Bloomberg Bloomberg reports that according a person familiar with the matter, Toronto-Dominion Bank (TD) joined JPMorgan (JPM), Citigroup (C), Wells Fargo (WFC), and Banco Santander SA (STD) as potential bidders for Washington Mutual (WM).
"Moody's cuts WaMu preferred stock to 'most speculative' By Sue Chang Last update: 4:18 p.m. EDT Sept. 22, 2008Comments: 7 SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Monday lowered Washington Mutual's preferred stock to the "most speculative" grade of Ca from B2 and placed all ratings of Washington Mutual Inc. and Washington Mutual Bank on review for possible downgrade. The ratings agency also cut Washington Mutual Bank's financial strength rating to E from D+. "Although Moody's believes that the U.S. Treasury's $700 billion asset purchase program has the potential to restore confidence in U.S. banks, benefits of the program to WaMu are uncertain in the short-term. WaMu's troubled asset portfolios are sizeable in relation to its capital base," said Moody's in a statement. It added that although details of the program are still being worked out, potential mark-downs are likely to erode its capital position. WaMu also needs to restore investors' confidence and stabilize its funding base immediately whereas the implementation of the Treasury's proposed program may take time, Moody's said. The ratings agency currently rates WaMu's senior unsecured debt at Ba2 and subordinate debt at Ba3 while Washington Mutual Bank's deposits and senior unsecured debt are rated at Baa3. " I don't understand why they would lower its rating before understanding the terms of the bailout plan. they even acknowledge the fact that the plan may benefit WaMu, yet they still feel its necessary to cut its rating. Wouldn't it have made more sense if they had waited a couple of days to see what this plan was all about?
Come on Izzy, you can't increase a stocks rating because of a bail out plan! Think about why they need the bail out.