Mr Cooper Group Inc (COOP)

[rramirez82]

Claudio, you're absolutely right. Seeing the PPS rise yields a nice sense of security as we wait for settlement to come through.

There is quite a bit of MM manipulation going on right now and I suspect the crazy volume we've been seeing since Friday afternoon is attributable to some kind of information (may not necessarily be settlement, per say) that leaked out into the institutional market. Since then, MMs have been trying to keep the PPS under control while shorts cover their positions -- hence the reason we're seeing more activity on the commons than the preferreds.

We can speculate all we want and theorize as to what kind of information leaked (if any), but lets not lose sight of what is happening with the litigation -- especially the discovery that JPM is supposed to be turning over (but probably won't) in the next week or two. Between the imminence of discovery and the recent unexpected volume spike, the next few days are going to be very exciting. Depending on the activity we see on Thursday and Friday, I think we might see something happen over the holiday weekend.