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Non-Tech : WAMU (WM)
WM 219.92+0.5%Jan 15 3:59 PM EST
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To: Toni Wheeler who wrote (45)9/29/1998 5:12:00 AM
From: KM  Read Replies (1) of 116
 
Toni: I don't know what it will do tomorrow but here's what I do know. Through sheer dumb luck (didn't know about the GS downgrade at the time I bought in here), I got January calls on this stock at the rock bottom price. They doubled yesterday for me in less than a week and I never even considered selling them. I've read Jim Cramer's columns saying that financial stocks which aren't exposed to the LTCM/hedge fund shenanigans and foreign derivatives will be accorded a higher multiple going forward. Sounds good to me. I watched the trading yesterday on this stock in real time and saw large block buying. Could be short covering, who knows, but it stayed pretty strong through the nasdaq selloff as well. I like what I've seen so far and am hanging in. Good luck to all.
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