OCN trade for 3/1/2016

Posted By JM on Mar 1, 2016 | 0 comments

The biggest loser the past 2 days in the stock market is $OCN (Ocwen Financial Corp stock). It was $6.15 three days ago and slow-deathed all the way down to a low of $2.06! The decline happened over 2 days on notice of new SEC investigations into the company's business. We are not long term buyers of the stock but will bottom pick it for long daytrade scalps due to its volatility.

Traded it 3 times for a cool +$2,621 profit. We used extreme caution in $OCN by trading small sized positions in it just in case the stock got halted for news pending. This is one of many long scalps we did today in the MookTrader stock chat room.


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