Long Position on OCN @ $46.20 on 6/14/2013 (Momentum)

Ocwen Financial Corporation (OCN) engages in the servicing and origination of mortgage loans in the United States and internationally.

The company’s Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.

This segment primarily offers services for subprime residential loans.

Its Lending segment is involved in the origination, packaging, and sale of agency mortgage loans into the secondary market. Shares have formed a bullish "cup and handle" and higher share prices are expected.

52-Week Trading Range:  $17.27 - $46.79

Entry Point: $46.20

Stop Loss:  $43.60

Target Price:  $50.70

Updates

6/20/2013 12:11:20 PM

OCN fell through our stop loss. Position was closed at $42.85

Position closed on 6/20/2013 at price of $42.85 with a -7.25% loss in 6 days.

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