Mr Cooper Group Inc (COOP)

[rickszy]

I cannot agree. The sell-off yesterday was a mixture of initial profit taking. MM manipulation, and panic selling! Below is my post from last night …

Posted by: rickszy
Date: Tuesday, March 09, 2010 9:57:00 PM
In reply to: None Post # of 166299

Wild ass day today folks! It was inevitable that we would see a drop today considering that we gapped up way too high the past 2 morning openings! Now that said, did I expect a drop from .70 to .34 in ninety minutes? Not on any ones Nellie!

I believe that the MM’s intended to gently take it down to around .55 or so which was the previous days close to gather more shares. I think that they would have stopped it there and proceeded as normal, however, the DC court news was confusing at best (causing some sell off) resulting in newbie, and swing trader panic selling further creating a precipitous drop from .55 to .34 in twenty-five short agonizing minutes!

Obviously we made a nice recovery and IMO we are currently back to a legit market price with a stronger overall base! … rs

… rs