Investing to Wealth

The last time I blogged WAMUQ I got an avalanche of response from some very irate readers.  I got called all sorts of names by some very passionate people (hello, Lars S.).  Those readers missed the point.  I am a technical analyst and I saw a hammered chart but some real possibilities with the stock.

The facts are:  WAMUQ is a penny stock, it trades on the pink sheets, is in Chapter 11 and is in the middle of a multi-sided tug of war between the Feds, creditors, bondholders, the Justice Department and millions of interested shareholders.  The consensus is that WAMUQ will reemerge from bankruptcy.  No one has a crystal ball to tell us what it will look like.   But, in the meantime, it is a great little trader

The bashers from my last blog forgot to read what I wrote.  My blog was not a research report.  It was opinion.  I have done the research (and I did it again…read today’s research report on WAMUQ), but what I wanted to give was opinion.  And, my opinion WAS RIGHT!

Here is what I said:

“Does that mean that WAMUQ should be avoided?  Not at all (emphasis added), but do not make the mistake of thinking that WAMUQ might be a good position for your IRA. The chart is telling me several things that nimble traders will want to look at.”

The chart told me that WAMUQ was prime for a reversal.  It went from 19 cents at the time to my blog to 70 cents and NOW it is back at 18 cents again.   Nimble traders, anyone?

Let’s take a look at WAMUQ’s chart:

WAMUQ is a doctoral dissertation for some people.  I was amazed at the breadth of facts that my readers were throwing at me.   People who are a whole heck of a lot smarter than me are heavily invested in this stock.  They are making decisions that I have no bearing on.  All I can hope to do is to make money on the wild swings of the stock (and, there are more coming imo).

Have fun with WAMUQ, but don’t fall in love with her.  She just might break your heart.

Good luck and good trading,

Jeffrey Dean

Editor