Ever since WaMu’s lawyer made that ridicules statement saying that commons are not in the money, WAMUQ has lost its attractiveness. More and more people are convinced that the commons will not get any share of the $4B settlement. Which I believe its not rue especially when it comes to pre share holders. I am convinced they will be getting a fair settlement which they deserve it. These days WAMUQ is just like any other a penny stocks played mainly and manipulated by MM’s and a bunch of experienced day traders. On the other hand there are too many people keep buying thousands shares thinking they might become rich by owning thousands of WAMUQ’s shares. There for, I think there is still opportunity to make money by flipping it for short profit.
In the last couple of days Wamuq lost some good percentage, but I believe this down side trend will end on January 2010, when the trial day gets closer. As always, take your profit when it is available, and if you like to play long then play with House’s money.
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My best pick for today is CHTL up 18%
