WM Update for 11.03.2007

WASHINGTON MUTUAL - WM

Monthly chart shows the impulse move down. Friday's price action found support for now off the .618 fib level. 07 Nov 32.50 put last bid $8.60 for 1223% return; 08 Jan 35.50 put last bid $8.80 for 507% return so far.

WM Update for 10.19.2007

WASHINGTON MUTUAL - WM
Monthly chart showing impulse move down .... with price stopping today near prior support.

Jim Cramer's Mortgage Index - Mad Money Index

Jim Cramer came up with his Mad Money Mortgage Index. It is comprised of 12 stocks. He will be watching these 12 stocks for signs that the "mortgage madness" is over. Jim Cramer says that once this index stabilizes (he does not define how this will be measured), and Bernanke cuts rates, that "we will be in the clear". Let's see how these Monthly charts currently look today, and let's see if Cramer can identify when the index has "stabilized".

1. MTG - MGIC Investment Corp.


2. CFC - Countrywide Financial Corporation


3. BSC - The Bear Stearns Company Inc.


4. KBH - KB Homes


5. CTX - Centex Corporation


6. MBIA - MBIA Inc.


7. BX - The Blackstone Group L.P.


8. TMA - Thornburg Mortgage, Inc.


9. BZH - Beazer Homes USA, Inc.


10. WM - Washington Mutual


11. GS - Goldman Sachs Group, Inc.


12. C - Citigroup Inc.


All these charts show sell signals. Since the sell signal is off a longer timeframe, I would expect that the sell signal signals an important top, and that we will retrace a larger range. Will use the weekly and daily charts to watch for significant bottoms to form.

WM Update for 042107

Daily chart shows strong buying coming into the stock.

Weekly charts shows that the investor sentiment has changed, with a kicker type signal in place.

WM Analysis for 01.21.2007

The move up from the November 2001 low appears to be corrective in nature. Could this be a diagonal triangle forming? We have now hit a high at the 1.618 fib level. Possible 5 waves up now into the $47.01 high in May 2006.

Market has now tested the $47 high 3 times -- each time was met with selling.

Sellers were met with early buyers on Thursday and Friday of last week. We now have a bullish engulfing candlestick pattern off the small LIS at $43.50 area and the 89sma.