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2 pts

Opinion on  Washington Mutual Inc (WM)     Sector: Financial  >  Industry: S&Ls/Savings Banks
Take the money and run

Mar 18, 2008 06:42 PM GMT
Barbaro
Return Risk
+3.02% HIGH
Associate

Technical Analysis  

Healthy stocks don't drop 15% one day and then live a happy healthy life. The prediction of the rate cut went through. I sold my WM and now going short.

WM:  This call was made on 03/18/08 @ $10.33
Rating:   Negative   $10.33 (03/18/08)
Closed:   09/15/2008 @ $1.81 (+82.48% in 181 days)
Target:   $9.10 (-11.91%) in > one year


+ Referring to this analysis:


Comments (1)

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Scott R   58%     1 point   commented 613 days ago reply

Tough call, DC. This one could go either way. They won a sizeable lawsuit and if we compile that with the fact that the fed is going to backstop loans again, it will be hard to bet against small/med banks.

Nonetheless, your 15% one-day callout is noticable and I won't jump back into regional banks until the uptrend is confirmed. I'm calling a "hold" on this one until there's some movement.

Scott

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Scott R 58% 03/23/2008


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