Washington Mutual Trend

Trading 101 | September 10th, 2008

I see the Washington Mutual headlines. I see the steady drumbeat that tries to predict what will happen next. But does any of that matter? How is any of that needed to make buy and sell decisions when the chart looks like this? That’s a 52 week range from around $39 to around $2.

What Others Think

tobash Added:

September 11th, 2008 at 8:44 am

yes yes, that’s all well and good, but my god man, whats its P/E ratio? Fundamentally speaking, i think it’s clearly a value buy here….i mean, it could double overnight! double! fundamentally!

Molecool Added:

September 11th, 2008 at 7:26 pm

Why is your podcast languishing? These are interesting times, mate - sit down and write something.

unknown Added:

September 12th, 2008 at 1:11 pm

yeah it could double…or triple…or more. But what if it gets cut in half, or goes to 0? Did u ever think of that? It is like flipping a coin, you need to stack probabilities in ur favor. Its idiots like you that lose everything

tobash Added:

September 12th, 2008 at 2:30 pm

wow, i guess you have never heard of sarcasm. Seriously, was that not totally obvious to anyone else? Why would I be on a trend following site if i was a fundamentals guy? Why would i say some p.o.s. stock could double “fundamentally”? Yep, I’m an idiot. Ya got me. Yep. I am the idiot. yeah.

also, such vehemence…calling people idiots online (after clearly not understanding the points of their posts)? jesus man, this isn’t cnn, there’s no reason for name calling. get screwed in the markets once to often huh? “it people like you who lose everything! everything! ahhhh!!!” get a grip creep.

bruno cecchini Added:

September 12th, 2008 at 8:17 pm

The good anser is very simple,first rule if you don’t know what to do just do nothing.Second rule build you a plan the biggest mistake trader do they have no plan,and no emotion please when you trade or talk about a stock Jim Cramer is just a show.So for the basic Wamu is on a longterm downtrend in a financial crisis so the value for me is 0 with the piece of information than I have The only Bullish case is a merger or a aquisition by BAC is the only bullish case than I see.Keep it simple rule number 3.Have a nice days.