new reo prices and basket price, page-33

I'm thinking you're on the right track but wouldnt that attribute 100% of the sp movement on that day to said "event".

What about the possible variation of sp impact relative to average volumes?

The more volume, the more people interested in said "event", therefore more potential for movement to take place due to said "event".

I guess my point is that a TOL grant at a SP of 80 cents may have a substantialy different effect than a TOL grant at a SP of 60 cents or 90 cents for many different reasons.

Not to mention investor sentiment, the amount of people that got burnt when the TOL was issued and subsequently frozen due to the courts would have, I would think, somewhat of an effect on future similar "events".

Easier to work out the effect of an "event" after it happens but the true value of this kind of analysis to investors would lie in the ability to predict SP movement in the future based on similar "events", which I think would be ALOT harder.