Washington Mutual, Inc. (NASDAQOTH:WAMUQ.PK)

10.000

After seeing BSC, FNM, FRE, LEH all go this way and slapping my head with how obvious it was, I wasn't going to miss out on the points from seeing WM go the same route. Interesting dynamic with the points though - those who picked it a long time back have seen the stock fall from $30+ all the way to zero, but with the S&P falling 20% in that time they only get 80 points. I come in this week at $2 and (since the S&P hasn't stayed flat) get close to the full 100%...

My hat's off to those who've been calling a red thumb on this one for so long. You know who you are, you get the real kudos.

Bankruptcy.

They will get bought out

Fed's will bail WaMu out along with the others. Even if they buy a stake in the bank and shares dilute, there is a good chance that the price will atleast double in a year or so. Worth the gamble imo.

The government will bail them out when they start to flounder again.

Saved by the bell and ready to make tsome smart moves and hold the bank and their name, solid.

ATM the market is Based on fear.

Buffet said the best time to make billions is buy when others "fear" the market.

Put a fork in it, they done

eventually will come back up but a few more ups and downs to come

This thrift is unique. It is a retail bank, a so called savings and loan and is the largest of its kind. The very size of WM makes it difficult to simply right off in the present economy. The world economy can not allow it to be another tumbler in the line of failures, for this would or could be the end of the US economy as we know it.

One should know: WM is more than a "straw" on the cammels back. It is an institution of size and resonable management. If it was the only problem in our system it could do a bk and the economy would go on; but alony with the relative failures prior to the present consideration, it is to large to allow for a failure. And a failure is not before us at this time. When the figures come in the end of September 08 one can reason a different way; but at this time it is premature to allow for failure.

This being the case. If the bank survives it will be a triple in six months.....there after it could easily become a 30 to 40 dollar stock paying dividens. The problem we have before us is systemic of the times we live.

Stay calm....

Even that the it has a large loss, the bank has a solid deposit base and had survived other crisis.

If get merged to JP it will only get stronger.

WM is a no sleeper.

Squirn while you don't earn.

Stock has been downgraded to Junk. Along with the fact that they have a -92% growth in the last year. Don't forget the housing Crisis!!

I have faith it will bounce, like really really slowly.

Duh. LOL.

IF Wamu survives - it's a great value below $4. What concerns me is KK's reputation of not giving us the whole truth (maybe we can't handle the truth?). The new CEO has a reputation of being honest and open with the shareholders so I'm excited to hear from him.

I grabbed 1000 shares at $3.30 - small risk - hopefully high reward.... probably no payback until mid-2009.

A speculative pick hoping that it has hit its floor for the time being. Need to make up for loser FNM FRE picks X2.

It doesn't look like WM has what it takes to stay around for much longer. Ousting the CEO and getting placed on the governments watch list are two significant events. Unlike other, more diversified financial services firms, WaMu has relied too heavily on mortgage origination.