Mr Cooper Group Inc (COOP)

[suprabiz2]

Today is bad because of the MUCH HIGHER VOLUME and closed lower than the yesterday's open. Like Clay said in his video chart, Bearish engulfing candle, Monday and Tuesday is critical, if it continues to fall, expect a deeper drop.

Also, the comment made by WMI lawyer was not anyting benevolent. He sounded like there won't be/they are not expecting any recovery for even the preferreds, hence commons will not get anything. His statement is well crafted, and I am sure he understood the consequence it would constitute to the pps in equity classes, but not sure his motive other than just telling the truth that they are not expecting recovery for equity. This is essential because we see an immediate pps reaction. That type of sell-off vol. is not just everyday joes selling for misunderstanding the situation. Although many ppl said that he cannot say something that has not happened yet and give speculations that there is possible recovery for equity. But this shouldn't be the case, remember in one of the hearings, he also made the speculative statement, "we expect significant recovery for the estate". I guess that significant recovery expectation is not intended to include equity. Lastly, Rosen could have sounded better today, which would not have caused this pps catastrophe if they by any chance care about equity.