For WaMu, April 14th, 2008 was the last time a bullish signal can be hoped for, from that point and all, all the signals are pointing down. The moving averages are all in bearish orientation. There was absolutely no reason that I can think of to be bullish on WaMu.
Now for AIG, the last time the MACD indicator was positive was the beginning of May, 2008. However the other indicators did not point to a bullish signal, therefore we were not supposed to be bullish at all at this stock, at least nowhere in 2008. There were actually quite a some short opportunities for these financial stocks. If you are afraid the risk of a short squeeze when shorting, then you can pay the premium of owning its put option contracts at some out of the money strike prices then all you will risk is the premium you pay for the option contract.
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