Replies to post #105129 on Mr Cooper Group Inc (COOP)

[Lawrence 147]

Yes I love it its gonna be 2 JPM for every 1 of WMI if they don’t get this mess straightened out and really soon.

[SamuraiProgrammer]

50% retracement is not end of world.

This is essentially (though not exactly) a 50% retracement from the 52 week low to the recent high.

The market has to 'breathe'.

I was thinking on the way to work this morning that we would most likely test .20 before going higher and how painful it would be.

Since we are thinking in terms of a high around 40 cents, it is easy to forget that it has been a huge run up from the low of .0139. Retracements are a part of chartology.

One way of looking at it is to realize that once .20 has been tested, then we can go higher. Fibonocci target somewhere just north of .50

I don't know why Fibonaccis work but they often do.

If this is a Fibonacci retracement, take heart.... Now we can work our way higher even easier.