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If you had $100,000 would you invest it in a house or in a buiness?
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I meant $1... |
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 Seems like we have a lot of good news in the last 48 hours..have we bottomed? |
or all of this is just another good opportunity for a 2nd round of short selling?
Additional Details
i thought it was obvious that i was talking about the economy...... |
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Jeff S | I just bought WAMUQ.PK...Did I just do something really, really, stupid? |
I don't know too much about stocks, I don't do stocks to get rich. I barely have any money in my portfolio.
I bought WAMUQ.PK today, because thats all Sharebuilders offered when I went to search Washington Mutual. I know that Wamu's official stock is WM, so whats this WAMUQ.PK? I got 5,000 shares at .034 (Only $170 total, obviously I'm a n00b). Can someone explain a few things-
1) Was I stupid to buy WAMUQ.PK?
2) Whats the difference between WM and WAMUQ.PK?
3) From what I've read (very little) it sounds like the government shut down WAMUQ.PK recently, but it went up from 0.00 to 0.034 today, does that mean WAMUQ.PK is back in business?
Thanks for any insight, I'm in need :-)
Additional Details
Thank you for a GOOD response peaceindia, I took that advice.
As for the first two posters, gfy. Your replies were far from a constructive response |
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James A
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WAMUQ.PK is the new symbol for Wamu Inc. once it was delisted from the NYSE. The Q means the company has filed for bankruptcy protection. In a filling with the SEC yesterday the company claimed $32 billion in assets (5 billion in cash, and 27 billion in shares of Wamu Bank (now a separate entity from Wamu Inc, and in receivership of the FDIC. Wamu inc. is the only share holder in Wamu bank) Wamu inc. also claimed $8 billion in debt, leaving $24 billion in positive assets.
Now here's the interesting part Wamu inc. has to mark it's assets at market value. If JP Morgan is able to sell Wamu Bank's loan portfolio to the Federal Government in the bailout deal, they must have to return cash to Wamu Bank and subsequintly Wamu inc. If the $24 billion in positive assets is returned to Wamu inc. share holders @ 1.7 billion shares that would mean $14.11 in cash per share. |
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Ryan P
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WOW...i got 220K at .05 and iam holding for teens.
good rule of thumb is sell half at a double and ride the rest free!
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The Money Guy
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WAMUQ was just introduced today after Washington Mutal Bank was seized and sold due to an extreme loss of deposits (mostly due to media hype). The answers to your questions are pretty simple.
1) YES/NO If you plan to sit on the stock longer then a day or two you probably made a poor choice. However you can sell the stock in the short term to make a quick profit. So you bought it at $0.034 per share (I assume 4618 shares plus the $12.99 fee) so if you would have sold it today at $0.054 you would have grossed $92.36 minus fees (about $24.98) You could have a net profit of $66.38. Sure it seems small but that is actually a 39% ROI a brilliant purchase!
2) WM symbol was taken down after JP Morgan Chase purchased Wamu assets. Although it is different WAMUQ is essentially the same.
3) Although Wamu Bank assets were purchased the corporation is still a legitimate business with other products and services that they offer. Not likely to last in the long run.
All in all, buy low sell high and try and do it in the same day!
By the way its trading for $0.074 right now (7:00am PST 9/30/2008) Here is your chance to double your money! |
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src50
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Do you always act first and think later? |
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Jay J
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Congratulations, you just made a 100% return on your investment in one day, now sell. |
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peacecindia
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Go right back onto Sharebuilder and cancel the purchase of Washington Mutual stock. Do it tonight.
JP Morgan bought all the good stuff and what's left is WM bad debts. You bought off the Pink Sheet where Washington Mutual was relegated to. They do not exist anymore.
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jverco
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Wait just one minute! You may have came in a little higher than it is now, but don't sell so quickly.
I just bought 6631 shares at $0.07 today. I am thinking that WAMUQ will go up in the next few days, just like Wachovia (WB) has.
Yesterday I bought Wachovia shares at $1.80 a share, but I panicked and sold them quickly...Today WB is over $3.00 a share!
Trust your instincts, my boy.
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mamabirda
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You did do something stupid, you should have bought more! Just kidding. You made a great choice. I'm in at .065 so not as good as you, but still good. I would wait a bit to sell, and just keep a REALLY close eye on it. Don't worry about not buying more at the .03 ... it's really hard to estimate what these things are going to do, and with this really volitile market, a good rule of thumb is don't invest any money you can't afford to lose. (Same applies for going to the casino.)
Bet you feel great right now that it's .11 and climbing...
Good luck!
(and poopoo to the people that gave you a hard time.... bet they are jealous now)
*edit* Wait, I'm reading your update.... you didn't cancel the purchase did you????? I hope not! |
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weedio85sg
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i will be opening a brokerage account with Citibank which will let me tap into NASDAQ, NYSE, AMEX markets. I am just wondering where can I find this OTC PK stock? |
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Horia T
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I personally think you did great,...details on the others people blogs already |
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tampabay_pi
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Like you, I am a recent small investor. I have never purchased a share of stock in my life. I'm 60 years old.
About ten days ago or so I purchased Freddie and Fanny for about 30 cents a share. Not a big deal, 500 each. I was told I was waisting my money by several pros on the message boards.
I also purchased 1000 shares of indy at 4 cents.
Both stocks have made me lots of money. Not millions, but I am up.
Today I purchased 1000 shares of WAMU at 7 cents. It will go up too.
These banks are owned by billionaires who are not going to lose their money. Hang onto your Wamu, take a chance. I think you will come out on top. |
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Joseph A
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Yah Im NEW to this too..
My friend suggested i get 1000 shares of wamuq...and I did.
just for fun...
hoping I didnt waste $75 BUT it is only $75..so i wont be jumping off the porch...
What do any of you PROS out there REALLY think..
I want to surprise my friend and sound like I know what I am talking about
thanks alot
Joe in sandy eggo
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americanobeer
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Hold no longer than Friday, IMO
The Q on the end stands for Bankrupt , I'm in but out by Friday or before with at least my originall investment.
This could got to 20-30 cent never know , people run the Q stocks up after a huge down, you got in at the bottom be smart or luck,
good luck there.
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frank
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Do not get nurvous!
You have just spent $170.00 not few thousand dollars. Give a few days or even few weeks and keep up with news
to see what will happen. with the J.P. Morgan owning them it has a good chance to go up.
Good luck. |
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draekos
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If you already bought this stock, go ahead and just hold onto it. It could be a hot penny stock in the next few days. If it jumps a few pennies, then you can double your money. But its a gamble. |
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German G
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yeah i just signed up for etrade and WAMUQ is the first stock i bought i just started out with 20 bucks, so i just bought 70 shares of it at .09 cents and its been rising all morning. Im not sure at all but the bailout plan is being voted on again tonight and is likely to pass.
So, wamu will be bailed out im guessing and stocks will rise. no clue tho, im just doing it cuz if it goes all the way back up then i gain like $2000 if whatever happens i lose 6 bucks -fee. |
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ipodseller09
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I wanted to buy 10,000 at .0.16. I also tried yesterday (monday morning) @ 1 a.m. to open a td ameritrade account with a check routing number, I couldnt get wamu because it was halted. Fine. It plummeted anyway, So I found a penny stock. Exactly a penny no doubt, I order 92,000 shares. Closes at 115% higher. I made over $1400 in a measly 6 hours. Not hardly, Td ameritrade did not process because I would have to wait until Friday to buy penny stocks. But I could buy nasdaq or nyse stocks. Makes no sense. I would have sold yesterday anyway. So I put in an order for 14,285 shares of wamuq and to buy @.07 a share. It was over that when I put orde in and fell below. I get the confirmation number that it was processed. Market closes. I make $170 roughly. Not to mention, the stock I originally wanted that I would have sold yesterday would have netted me another $500+ today, Hold on to it until atleast THursday when they decide to do the bailout or not. Most stocks go up then. If wamuq hangs around, there is no reason why it cant be over $2 by the end of October. $999.95 investment. 14,285 shares or so. If it goes to $7.01 I have $100,000. on a less than $1000 investment. I buy a house for $69,000 and only make $10,000 in two months. So that is a very small investment that can give a good return. Actually try to hold until February. Ride it out until you make 6 figures provided you buy 10,000 or more shares. THere is no reason why it wont be $2 or more at the end of October.....Then send me a Christmas card. Thanks |
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j
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If you don't mind losing everything |
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Zach D
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I'm not sure, I'm curious about the stock also. It looks like it just came into existence today and I can't find much about it on the internet. Is there any chance at all of it increasing, or is it dead stock? If there's any chance at all I might be interested in it. |
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lowend99
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I am like you, I have never invested a penny, but i did have a sharebuilder account, and so my brother told me how low the stock was....i just decided to buy 1500 shares at .075 cent (114$) , i wish i would have done it when it was .034 but i was debating, anyhow, at one point i had doubled my money but its back down to 12cent, im thinking i am going to hold on to it, if i lose oh well, i lose 114 in the slots all the time!
ANY MORE PENNY STOCK PICKS? |
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ali a
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I like to know that as well? also i like to know how does after hours trading works? can some one let me know that please.
Thank you |
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Deb M
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I have to tell you - I tried to buy on Monday for 16 cents - couldn't do in time -- ended up getting for 6.8 cents on Tuesday - $1000 bucks worth - so far have doubled my money. Glad to see me and my husband aren't the only people with this idea.
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zardiw
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You are a freaking GENIUS. You just quadrupled your investment!!........that's a 400% gain.......and that's just through today!
Watch what happens tomorrow (10-2), now that the Senate passed the bailout bill vote. 75 to 24 as it happens.
z |
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Jason R
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Considering that Washington Mutual was just bought by JPMorgan Chase, and within the next six months, everything is going to be changed over to Chase, I think it would stand to reason that when your stock gets transfered over, you'll see your stock shares go up. I have no clue how much, but currently Chase's stock is $46 per share. If you're stock did merge at that price in six months, that's be over $200K for your $170 investment....it's a crazy economy and who knows what's going to happen right now. |
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