I wouldn't double down just yet. Wells Fargo is looking at WAMU, too, but won't be in a rush to do anything because it's common knowledge that WAMU's books are a catastrophe, and therefore their real value lay in their retail franchises, as they are national. Having said that, WAMU did a shit job of locating and promoting their branches.
I would not be surprised if it ends up being a bidding war for WM sending it into the teens or higher....Their retail locations are prime in many areas and don't count out Capital One sneaking in a bid out of nowhere..They did after all buy North Fork and now all North Fork branches have the Capital One banner and are doing very well from what I've been hearing... Nobody every mentions Capital One but I would not be surprised at all to see them come out of nowhere as they I am sure would love the retail part of WM.
Silence kills the patience of the investors. Soon we could see another sell off for Wamu.. May be we need to remove it from the portfolio sooner..