$0.12
0.00 (+0.87%)
Washington Mutual, Inc. (WAMUQ.PK)
CAPS Rating:
The Company is a consumer and small business banking company with operations in major U.S. markets.
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I actually bought 1,000 shares @ 3.98 because I viewed this as a call option with no expiration date. This stock is either going to 0 or will be taken higher by a buy-out, merger or takeover. With a risk reward of $4 on the downside and unlimited upside, it is a speculative call, but the non-expiry option rationale justified a small position (<1%) in the portfolio.
My thoughts exactly.I got some FRE at 4.20 and MTH in the 7s a while back. Sometimes things are just worth a punt because the downside is so small relative to the upside. I'm not holding out for another 2-week 2-bagger on WM. Happy to make a few grand and see it up another 5% from here.If you hold, I hope it runs brilliantly for you. I reckon there is a real chance that you'll be up a grand by close next week. Maybe 2. In 2 years, if you're not up 10K, it will mean the world has ended - in which case, dropping 4K will be the least of your worries.
I admire your sense of commitment and wish you "Great Returns !"
No Guts, No Glory. Someone with real money that actually went out and bought real shares of a stock. Good Luck with this trade.
Well, i must say... I gave in. I dumped it all today at $3.13/share at a loss (obviously). Bought at $4.78. I think the equities will wash out onc efed decides to get in there. Yes - It is a large bank. To many of you who have said "There is no where for it to go other than up!", I said that about Enron all the way down to 1 cent. lol. Good thing that one was only 5% of my holdings :) Now with credit defaul swap spreads going wider, Im out. Rather be down alot than lose it all.
This turdburglar is going down. A year ago, I refied my 17 year old mortgage out of WaMu and closed 4 of 5 accounts (over 20 year customer) with them. Never missed a payment, credit score above 750, they wouldn't even talk to me about matching the deal I could get down the street at at least two other banks. I left one free acct open with a dollar in it so they can lose money by having to mail me a statement every month. Today we received a notice that anybody who is not a WaMu customer but who wants to cash a check written on a WaMu checking acct will be charged $5 for the honor. How many customers are going to continue to write checks to other people when those people can't cash the check at the bank?