9/29 6:45AM - Wachovia bid is $6/share (Closed at $10/share Friday)

[Cowlesy]

See you later Wachovia.

It closed at $10 on Friday, and CNBC is reporting the bid right now is $6, down 40%.


Look at the curve for Gold after the bid was reported.

http://www.kitco.com/charts/popup/au24hr3day.html

Naturally Gold will pull back after any hyperbolic spike like this (though the spike is only a few bucks), but I doubt Wachovia will exist by the end of the week in the form it does today.

[DFF]

D'oh! My portfolio's with Wachovia (though I realize it'll be safe, just can't get enough of saying D'oh! :D)!

[olehounddog]

Nothing is safe. All it takes is the stroke of a pen to change it. Executive order:mad:
Martial law

[olehounddog]

Bid ask $4.02-$4.17:eek:

[DFF]

Where did you get that quote from?

[olehounddog]

CNBC It was back to 4.90 a couple of minutes later.

[Cowlesy]

Yes to be fair the volume is EXTREMELY THIN right now (meaning very few shares are trading which will lead to wild swings).

Gold is back down now as predicted.

[DFF]

Are you a trader, Cowlesy?

[Cowlesy]

Are you a trader, Cowlesy?

Just an amateur one, not for a living

[Cowlesy]

Wachovia Bid $3.95

[Drknows]

Didn't you listen to conference call?
http://www.ronpaulforums.com/showthread.php?t=159158

They told the firms the bailout was for HEALTHY INSTITUTIONS not failing or failed ones.

So i bet some investors got wind of it and are pulling out left and right.

[Cowlesy]

Wachovia Bid now $3.38

Damn you short-sellers!!!!!! /sarcasm

[slacker921]

....something tells me the folks in Charlotte are going to find out what happens when a major industry leaves town. I'd bet the realtors phones will be ringing off the hook later this week with people trying to sell their new home at any price.