What do you guys think of JCP after all?

tandh said:
Is JCP facing bankruptcy? Opinions?
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I'm going to be boring and just continue with my "short and hold" strategy.

My initial entry price was about $16, and I added somewhere above $9.

I'll let everyone else bother with attempts to catch a 10% bounce here or there.
 
I bought JCP last Friday (the 25th) at 9.21. I've been watching it for a while and put it on my buy watch in May. It seems to have put in a bottom and it is also rising on days when the overall market is selling off. The entire retail sector has been lagging the market for a while, and I think it may have bottomed as well.
 
If it tags $10 and begins to pullback (to shake out the breakout buyers) then how low can it go and still remain a buy? Logically 8.40 will stop out a lot of longs. If the public gives up their long shares easily then it could see further new highs. Does this scenario sound about right?
 
dratsum said:
If it tags $10 and begins to pullback (to shake out the breakout buyers) then how low can it go and still remain a buy? Logically 8.40 will stop out a lot of longs. If the public gives up their long shares easily then it could see further new highs. Does this scenario sound about right?
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If it were to spend too much time below 8, I will throw it out. Otherwise I'm holding for the long haul.

Back in December it hit 10, then quickly sold off all the way down to 5. Trading was volatile in Feb/Mar, but then calmed down and has risen slowly. I like that slow rise and the fact that the stock holds up well on when the overall market is bad.
 
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