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- sparkroms, on 09/18/2008, -0/+9Whoops Forgot to put that its a sell limit GTC order
Heres easy instructions
1) put in a sell order
2) make it a limit order, not market order
3) set the price at $7.50 +
4) set expiration as GTC (Good Til Canceled), and leave the expiration
date blank. - RomeyRome, on 09/18/2008, -0/+7Basically, if you have a sell limit order, your shares are locked in pending a sale. If you don't have them locked in, your broker can loan your shares out to others until you want to sell, at which point they'll have to re-acquire your shares. If they are already loaned your shares out, & you put a sell order in (of any kind), they will have to re-acquire your shares & lock them in. The more locked in shares are out there, the less can be shorted.
4000 @ 8.4 (in at 4.2) - sparkroms, on 09/18/2008, -0/+6well by putting a limit order the broker cannot lend out your shares to shorters because it could reach the price and if the shorter still has it sold they cant get it back right away.
- speakinglish, on 09/18/2008, -0/+6We just broke 400,000 shares
- keonnerod, on 09/18/2008, -0/+6How / Why would this help?
(sorry for my ignorance, i'm just a little confused) - mrASSMAN, on 09/18/2008, -0/+6I just happened on that discussion on Google Finance (and happen to be a Digg user). At first I thought, "oh god, another moron who thinks a couple investors doing this will make a difference," but then I realized there were hundreds of posts and everyone was following through and managed to get over a million shares protected. Wow. Quite inspiring to watch, I am doing the same with my shares now (though I don't own very much), and hope we can make a difference. Great work guys.
Over 20% in the green right now, though I doubt it has anything to do with us. - gorfdad, on 09/18/2008, -0/+6Wow... approaching a million dollars worth. Nice effort.
- kadio, on 09/18/2008, -0/+6got my measly 200 shares locked in @ 7.51. bloggers, blog this more until it gets picked up by the main stream press.
- speakinglish, on 09/18/2008, -0/+6Y'know, BUYING shares of WaMu would help, too :D Just saying...
- kylo85, on 09/18/2008, -0/+6http://www.marketingfinanceobama.com/2008/09/googl ...
- frogw1ne, on 09/18/2008, -0/+5Just locked up my 20,000+ shares.
- kaspju, on 09/18/2008, -0/+5This is a great company I am glad everyday people are finally getting together to try to stymie short sellers attempts to dismantle it.
- lostarchitect, on 09/18/2008, -0/+5Hell yes, guys. You are badass.
- viccsuave, on 09/18/2008, -0/+5comon guys digg! We need to get this out, the media is not covering this story as much as they should!
- brunokracklite, on 09/18/2008, -0/+5Yes! Yes! Yes!
- ar15skrilla, on 09/18/2008, -0/+5Excellent job people!
- frogw1ne, on 09/18/2008, -0/+5Some send this to financial reporters who cover WM... once it passes 1,000,000 shares I think it becomes a story... grass-roots investor movement, etc. I'd do it but I have to go to work now.
- speakinglish, on 09/18/2008, -0/+5frog, we just made 500,000 thanks to you!
- fun1nspector, on 09/18/2008, -0/+5802 shares @ 7.50 GTC
- imacsandra, on 09/18/2008, -0/+5http://millionster.com/articles/investing/wamu-inv ...
Fight the man! 5000 @ 7.50! - MatthewDuke, on 09/18/2008, -0/+4Hey shorts, I got 100 shares that you won't get your stinky mitts on (unless you want them for $8 a share).
F---A---C---E!!! - speakinglish, on 09/18/2008, -0/+4Contivity, got a number for us? Or did you already post it to the google thread?
- speakinglish, on 09/18/2008, -0/+4Let's let this thread know:
http://digg.com/business_finance/I_hate_to_fan_the ... - Contivity, on 09/18/2008, -0/+4Great movment. Dugg & Locked In!
- Contivity, on 09/18/2008, -0/+4Tried to post on Google thread, but needs approval of application or something like that. It's 11K @ 7.5
- zonation, on 09/18/2008, -1/+5Finally people are standing up to the part of the financial industry that is destroying the common investor. Peoples lives are at stake.
- bontzmachine, on 09/18/2008, -0/+4200 at 7.50... a small pittance, but at least my shares aren't being lent out to short scum.
- keonnerod, on 09/18/2008, -0/+3I'm convinced
400 @ 7.50 - brunokracklite, on 09/18/2008, -0/+3News coming from VISA shareholders doing the same. Great news. Let's spread it over to real people like us on other stocks.
So it seems that about 11% of WM is held by investors like us, which then means, we've got about 10% of that by this movement. Good job, people. 10% control in the first day is great success by the people for the people. - speakinglish, on 09/18/2008, -0/+3WaMu is spiking 18%!
- brunokracklite, on 09/18/2008, -0/+3Come on people, 300 diggs by end of the day and we'll save WaMu. Block shorters by GTC orders and spread the word
- speakinglish, on 09/18/2008, -0/+3815472 shares right now, folks
- zonation, on 09/18/2008, -0/+3Our actions are not contributing to a worsened state. We make no defense of the mistakes of WAMU. On the other hand we fight to stop the injustice that is plaguing the community by short sellers.
We also fight against the ratings agencies whom for their own interest come out and downgrade institutions when they are on the verge of collapse in a market that is on the verge of collapse. We also no that our investing does incure some risk but we know that we must be protected as well.
We the common share holders are as important to the economy as a hedge fund or a mutual fund; and their is no way that we will be slughtered without a fight. - speakinglish, on 09/18/2008, -0/+3Unfrigginbelievable!!
- gorfdad, on 09/18/2008, -0/+3Pretty sure most of us don't think we are really stopping shorts... just banding together and making a statement.
I'd also say that these actions also fall into the category of "pursuing [our] own interests." We're here to exploit the system in any means we choose within the limits of the law. If this really blocks shorting, they'll find another way. Progress is made. - speakinglish, on 09/18/2008, -0/+3That's 965900, and another 1 million + rumored from Yahoo's boards...we've effectively got over 1% of this stock!
- speakinglish, on 09/19/2008, -0/+3SEC has only stopped "Naked" shorting which wouldn't be affected by this since they don't actually borrow shares.
- brunokracklite, on 09/18/2008, -0/+3This is regulation by the people. It's inspiring. It's good. Let's keep going and spread the good virus to other stocks as well.
- CicadaTehL337, on 09/18/2008, -0/+3go go go!
+1000 shares @ 7.50 - speakinglish, on 09/18/2008, -0/+3I count 964900 shares safe from shorts as of 3:36 Eastern
- sviridovsky, on 09/18/2008, -0/+3And WaMu is up 30% for the day
- Dereliction, on 09/19/2008, -0/+2P.S. Just so it is absolutely clear, I'm not in any way defending or condoning the sort of false-rumor mongering and blatant (even egregious) attempts to negatively influence stocks so as to profit by short selling in these type of volatile conditions. Whenever I talk about a "free" market and the like I'm inferring reasonable, voluntary transactions between participants of which I think short selling is as valid an approach as going long, within that context.
- cyberdork, on 09/18/2008, -0/+2Try, 0.1%
- Dereliction, on 09/19/2008, -0/+2"If this really blocks shorting, they'll find another way."
Almost exactly my point, except it is the market that will find another way to exact its toll. Also, I don't think you're blocking shorts, per se, though attempting to hinder their ability to short is rather the point of this exercise, no?
Also, "pursuing your interests" (particularly as per the Adam Smith quote I mentioned earlier), is a reference to fiscal self-interest and not so much a philosophical one as you suggest. Of course, I'm not really clear what your interest may be outside of attempting to make things more difficult for short sellers. Is this just an admitted moral crusade of some sort then? - rvinson, on 09/18/2008, -0/+210 shares at $8. Every little bit helps though right?
- speakinglish, on 09/18/2008, -0/+2Yeah, WaMu screwed up, but there is reason its value should be under $2.00 except the trends of the market! They didn't screw up that badly. When you say we may claim a victory in the short term, I think you have it backwards. The short sellers were claiming a victory in the short term, and we're just trying to help correct the situation. We're not articially inflating the stock's value; we're just preventing others from artificially bringing it down. Your view of the situation is well thought-out and reasonable, but I would say it's wrong.
- speakinglish, on 09/18/2008, -0/+2Well, now it's looking like closer to .5%, but yeah, I screwed up the math...thanks cyberdork
- zonation, on 09/18/2008, -1/+3Our actions are not contributing to a worsened state. We make no defense of the mistakes of WAMU. On the other hand we fight to stop the injustice that is plaguing the community by short sellers.
We also fight against the ratings agencies whom for their own interest is to come out and downgrade institutions when they are on the verge of collapse in a market that is on the verge of collapse. We also know that our investing does incure some risk but we know that we must be protected as well.
We the common share holders are as important to the economy as a hedge fund or a mutual fund; and their is no way that we will be slughtered without a fight. - sviridovsky, on 09/18/2008, -0/+1You don't already have a limit order set, do you?
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