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Author Topic: JCP $6.52
Happy Valley
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Closing in on a double bottom. Tons of negative press on a daily basis and absolutely loaded with shorts. JCP has been the whipping boy of hft's for months now and has been abnormally easy for shorts as of late. Is this the set-up before the story is re-written? Thursdays action is significant imo, new 52 wk. lows were there for the taking but buyers stepped up big @ $6.40's to put in the higher low. Keep an eye on the bond yields, they tell the real story. JMO DYODD

Took the first lot of Aug otm calls on Friday, will add if we get another quick flush and test of October lows @ $6.20's.

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Happy Valley
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$6.75

Look for double bottom confirmation tomorrow...jmo

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Happy Valley
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What a roller coaster. The more they hate it, the more I like it. E's on the 26th, everything until then is just noise...
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Happy Valley
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http://services.corporate-ir.net/SEC/Document.Service?id=P3VybD1hSFIwY0RvdkwyRnd hUzUwWlc1cmQybDZZWEprTG1OdmJTOWtiM2R1Ykc5aFpDNXdhSEEvWVdOMGFXOXVQVkJFUmlacGNHRm5 aVDA1TXpjMU5EUTRKbk4xWW5OcFpEMDFOdz09JnR5cGU9MiZmbj1KQ1Blbm5leUNvSW5jX1NDMTNHQV8 yMDE0MDIxMC5wZGY=

http://services.corporate-ir.net/SEC/Document.Service?id=P3VybD1hSFIwY0RvdkwyRnd hUzUwWlc1cmQybDZZWEprTG1OdmJTOWtiM2R1Ykc5aFpDNXdhSEEvWVdOMGFXOXVQVkJFUmlacGNHRm5 aVDA1TXpVMk5UYzNKbk4xWW5OcFpEMDFOdz09JnR5cGU9MiZmbj1KQ1Blbm5leUNvSW5jX1NDMTNHXzI wMTQwMjAzLnBkZg==

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Happy Valley
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http://www.sec.gov/Archives/edgar/data/102909/000093247114003237/jcpenney.htm
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Happy Valley
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http://www.sec.gov/Archives/edgar/data/1166126/000117266114000330/jcp123113a4.ht m
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Happy Valley
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J.C. Penney Texas Land Deal Seen Generating $200 Million

http://www.bloomberg.com/news/2014-02-12/j-c-penney-texas-land-deal-seen-generat ing-200-million.html

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Happy Valley
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J.C. Penney: No Borrow At Any Price. A Primer On Shorting

http://seekingalpha.com/article/2015571-j-c-penney-no-borrow-at-any-price-a-prim er-on-shorting?source=yahoo

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Happy Valley
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$5.20's...Getting flushed today. I'm down but sticking with this one, I've seen this story before. E's on Wednesday...
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Happy Valley
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J.C. Penney expects higher sales, gross profit this year
http://finance.yahoo.com/news/j-c-penney-expects-sales-211429393.html

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Happy Valley
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$7.20's PM...

100+ million shorts and the stock was priced for bankruptcy afte being decimated by bogus "Analyst" PT's and HFT's. Expect some to take profits today but this is heading much higher if you have the patience...JMO

Link to the CC and transcript.
http://ir.jcpenney.com/phoenix.zhtml?c=70528&p=irol-irHome

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Happy Valley
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$7.45...

How so many shares are shorted at the bottom is beyond me. Those flipping for pennies today will have sellers remorse soon enough. Gapfill to $8's first, double digits and test of Dec. highs sooner than most think....JMO

2/14/2014 128,515,677 33,701,278 3.813377
1/31/2014 118,443,854 26,545,356 4.461943
1/15/2014 108,754,499 34,684,356 3.135549
12/31/2013 86,354,223 19,873,960 4.345094
12/13/2013 89,005,233 33,722,303 2.639358
11/29/2013 87,707,149 48,577,056 1.805526
11/15/2013 91,240,768 34,895,568 2.614681
10/31/2013 79,047,619 38,863,964 2.033957
10/15/2013 76,825,256 43,253,960 1.776144
9/30/2013 83,522,478 62,538,581 1.335535
9/13/2013 71,720,285 22,885,276 3.133905
8/30/2013 66,893,134 31,604,844 2.116547
8/15/2013 62,547,766 31,170,092 2.006660
7/31/2013 44,518,877 8,424,916 5.284192
7/15/2013 38,587,878 4,261,977 9.053986
6/28/2013 36,108,134 7,360,341 4.905769
6/14/2013 36,154,561 7,525,400 4.804337

http://www.nasdaq.com/symbol/jcp/short-interest

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Happy Valley
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$7.90's...

$8 break lights it...jmo

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Happy Valley
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S&P raises outlook for JC Penney's credit
S&P raises J.C. Penney credit outlook to 'stable' following company's 4th-quarter sales report


http://finance.yahoo.com/news/p-raises-outlook-jc-penneys-223916044.html

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metal1
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Nice call, almost bought it just before earnings but didn't have the guts, lol
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003  |  IP: Logged | Report this post to a Moderator
Happy Valley
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$9.00 handle hitting PM...

Citi Upgrades JC Penney to Buy
Analysts at Citi Upgraded the rating on JC Penney (JCP) to “Buy” from “Neutral”. It raised the price target on JC Penney (JCP) to $11.00 from $7.50 suggesting 30% upside

http://www.theeconomicdaily.com/2014/03/11/citi-upgrades-jc-penney-to-buy/

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Happy Valley
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Building a nice base, holding up well the last few days against a horrible tape. When we break the March highs @ $9.28, double digits will come fast. Those with the patience will be rewarded here... jmo
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Happy Valley
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$9.73...Hard to believe this was $4's just two months ago. Congrats to those who had the patience and ignored the noise.
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CAPTNEMOS
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nice job Happy.Gratzx

--------------------
WHADDYA MEAN I CAN BE PRESIDENT OF THE USA.ITS STILL WE THE PEOPLE.RIGHT?

Posts: 2043 | From: THE LAND OF CAPS LOCK. | Registered: Oct 2004  |  IP: Logged | Report this post to a Moderator
   

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