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1 pt

Opinion on  WAMUQ (WAMUQ)
Wahoo Q

Oct 01, 2008 07:41 PM GMT
074
Return Risk
+7.04% LOW
Associate

So I picked WM at $1.70.  That same day WM was seized and I lost 90%.  What else to do?....bought 23,000 shares of WAMUQ bankrupt WAMU at an average of $.055 per share.  Now we're at $.13 and I'm almost back to even, but expect to come out ahead.  That my friends is the beauty of dollar cost averaging. 

I've also learning an important lesson. Sometimes it is important to run into the fire.  Do this a few times and you could come out rich. 

WAMUQ:  This call was made on 10/01/08 @ $0.13
Rating:   Positive   $0.13 (10/01/08)
Closed:   10/08/2008 @ $0.1102 (-15.23% in 7 days)
Target:   $0.30 (+130.77%) in < two weeks


Comments (3)

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getsome   N/A     1 point   commented 416 days ago reply

So do you think it will at least come up to .50 - 1.00?
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074
Jeremy McDonald   76%     1 point   commented 415 days ago reply

I am confident that there could be a nice pop to say $.30 on some positive news. In the meantime I would recommend selling ASAP on Wednesday and buying back in preferably around $.05 on late Friday afternoon. There is a court date next Wednesday so it is likely that there will be accumulation in the early part of next week.

The safer bet might me the preferred stock although it may be harder to sell due to limited volume.
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Jeremy McDonald   76%     1 point   commented 415 days ago reply

Changed my mind on the Wednesday sell following what I perceived to be favorable market conditions at about 9:45 AM.

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Jeremy McDonald previously rated WAMUQ
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