Replies to post #112083 on Mr Cooper Group Inc fka COOP

[Chiron]

The pps starting dropping when the FDIC attorney started speaking. That threat scared a lot of traders and caused the sell off. We were heading north with every word out of Sachs mouth - the FDIC lawyer caused 'doubt' today that has only been refuted after the market closed.

[dianebRN]

IDK. Good observation. IMHO seemed like a typical attorney Pixxing match. Guess it will all become clear over time.

[kelseyf]

If you listen to the court, which I did, just prior to the FDIC making it appearance WAMU was up to .229. Once the FDIC took the floor...yup that "was the call for today's price movement north", (the end of the upmove for the day Plastipunk, read into the opinion that was posted) the PPS of WAMU then stalled, started to drift and then it headed down....that was the trade signal for the day.

If you had a short term-day trade position in WAMU, which a portion of mine is..........again that was the signal IMO to trade out. And if I'm not mistaking a number of other traders in WAMU saw the same signal and did the same trading action

Does not mean that the act of the FDIC is bad for WAMU, in fact IMO, this FDIC move on behalf of JMP just creates a stronger outcome for WAMU, but again for a day trading position, include the fear factor of the FDIC making an appearence on behalf of JPM just created an short term trading opportunity in WAMU.

For me just a strategy that helps build a larger overall position in WAMU if the move goes the right way. And yesterday this trade did exactly that.

Do us all a favor and again read the post carefully before jumping to an opinion that is not correct.

Kels