Washington Mutual Inc

[Mr. Halsey]

dropped below $5 today... anyone see any upside to this?

[Dr PennyStock]

Not yet.

[HappyAlien]

I own shares of WM which i held long term at avg of 9.99. Now I'm waiting for a bottom to buy more. Its very oversold, and we had a green doji yesterday, even though the -DI is way above the +DI. Doc, do you think we may be close to a bottom, or if the +DI starts to swing up would that confirm we hit bottom yesterday?

[Dr PennyStock]

Was not a doji, it closed above the open, was a normal green candle, the stock is oversold, but, it has resistance at 5.81 (PAR SAR), only a breakout of this resistance will give a buy signal, but, the bottom must be somewhere near this level, IMO.

[HappyAlien]

Thanks Doc!

[Mr. Halsey]

i think WaMu or Wachovia could be looking at a buyout in the near future.

But the jackpot im waiting for is BAC....hoping it dips really low for a good buy in point

[Greg]

i think WaMu or Wachovia could be looking at a buyout in the near future.

But the jackpot im waiting for is BAC....hoping it dips really low for a good buy in point

didn't the #2 man in the Treasury just step down to take over Wachovia...If so...this is one of the guys that saved wall street from that Bear-stearns issue...From what I read it's a top notch finance man..

[Mr. Halsey]

yeah Steel was from the Tres.