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Back on June 4th we highlighted WM (see original post below) which had an abysmal FusionIQ score of just 9 (out of a possible 100). Since our post WM has fallen from just under 9.00 to below 4.00 – this is just another example of how FusionIQ with its powerful ranking metrics add value to investors as a risk management tool.
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June 4, 2008
Washington Mutual Inc. (WM) - WAMU how low can you go ?
Washington Mutual Inc. ((WM) “ FusionIQ Master Technical Score ” 9) shares have been like most financials over the last several months, utterly obliterated. However just when many people thought the financials were bottoming now many, such as WM, are making new 52 week lows. The moral of the story is it is hard to catch a falling knife so do not try, unless of course you worked in the circus in a previous life !!
We still remain negative on the financials across the board so do not be seduced by the fact they appear cheap.
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