Estimate of $.38 on Revenue of $490 Mil. We will probably see FBI/SEC vans in the parking lot before we see a 10K. Nobody wants to sign off on it due to Sarbanes Oxley. Middle management will be in hand cuffs and Erbey will get a position at Goldman Sachs in their Cayman Island office.
Up 6% on anemic volume. Zero pressure on the short squeeze. This is going to be just another Wall Street arbitrage "Happy Meal". The good assets will be gutted and OCN will be left with the garbage.
Your going to be playing at the public coarse before you know it. I suppose they delayed earnings because they wanted to surprise everyone with the good news! Don't fight the tape , your in the house of pain. Do you have any fingers left.? If you do, they will be gone on Monday. Beware of Falling Knife.
Went short today @$8.68 and bought the April $10 calls for $.41. I'll put my money on the "Wells Notice" and/or a "No Bid letter" and I'll risk loosing 16%. Gaps down, opens @ $6.12, pierces the 52 week low, trades in the $4's, closes in the $5's.
I will sleep tonight but on Monday I will be punching myself that I bought the Call option hedge.