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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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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
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
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
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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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