dsark wrote: snake123 wrote: I hope everyone here understands the ramifications of todays breakdown, technically speaking. All those that got in a day after their big 3 year announcement are not stopping out. THere is no support anymore. We are at mercy of the SHORTS. And they are angry and thirsty to make some $ off of us, knowing mangement will sit by just paying down their cheap 4% debt and do nothing with the tons of cash on sideleines
I unloaded my position at the $20.00-20.05 cause oil was getting too weird. The next day RBC downgraded the stock, despite markets skyrocketing. I'm afraid I think ol' snakey is right. 200 day MA is 18.75 and it looks like she bounced off it a little (for now). RSI at 35, MACD looks like it's about to get the final flush down the toilet as its been dropping like a rock since early March. Technically there are 2 gaps that have to be filled ( if you believe in that sort of thing ) at $18 & $16.
While I think their most recent report was good, it had no share buybacks & I think that's what Jane & Mr. Cooper failed.
Sell properties, repay debt - check
Buy back shares capitalizing on discount to NBV, which would be accretive & increased BV - failed miserably
Like others mentioned, Jane seemed to think unloading shares in the $20 was a good idea, so I followed the CEO's footsteps.
They should have bought back 3M shares already.