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$WLT STRONG BUY
$WLT for tomorrow
This has been one of my best day trading stocks ever. 2nd to WLT. JCP is definitely hitting 8 soon, may be tomorrow
Shares of J. C. Penney Company, Inc. (JCP) gathered momentum and surged 8.8% to close at $7.39 yesterday, after CEO Myron Ullman hinted at improving sales trends and reiterated positive comparable-store sales forecast for the third quarter of fiscal 2013, Associated Press reported.
Earlier, J. C. Penney had revealed that its key sales barometer improved in September from the prior month and is expected to last through the remainder of 2013, owing to its turnaround efforts. The Plano, Texas-based retailer had announced that its sales for the month of Sep 2013 dipped 4% year over year but improved sequentially from a decline of 9.8% registered in Aug 2013.
J. C. Penney has been in troubled waters for quite some time, and has been grappling with waning revenues and higher losses. The company has not shown any signs of recovery in the recent past. This is evident from its 7th consecutive quarter of sluggish results on Aug 20. The company has been constantly lagging its peers, Macy’s Inc. (M), Target Corporation (TGT) and Kohl’s Corporation (KSS) in terms of performance.
However, the company has taken several strategic initiatives to drive traffic and conversion. The company reverted to promotions, which could be a successful sales driver this holiday season.
Investors remain cautious about the stock, as the company endeavors to recoup and give itself a major facelift. In a significant development, the company’s board of directors in Apr 2013 discharged the Chief Executive Officer (CEO) Ron Johnson of his duties after 17 months, as his ambitious transformational ideas failed to materialize. Consequently, the company’s former CEO, Myron Ullman was reinstated in his post.
The company will come out with its third quarter results on Nov 19. However, our proven model does not conclusively show that J. C. Penney is likely to beat earnings this quarter. This is because a stock needs to have both — a positive Earnings ESP and a Zacks Rank #1, #2 or #3 to beat the estimate — but this is not the case here. Although the stock carries a Zacks Rank #3 (Hold), but has a negative ESP of 12.12% (as the Most Accurate estimate stands at a loss of $1.85, while the Zacks Consensus Estimate is pegged at a loss of $1.65).
The above view is well supported by J. C. Penney’s earnings surprise history. Looking at the company’s earnings surprise history, it has missed the Zacks Consensus Estimate by an average of about 523.2% in the trailing four quarters.
Shares of J. C. Penney Company, Inc. (JCP) gathered momentum and surged 8.8% to close at $7.39 yesterday, after CEO Myron Ullman hinted at improving sales trends and reiterated positive comparable-store sales forecast for the third quarter of fiscal 2013, Associated Press reported.
Earlier, J. C. Penney had revealed that its key sales barometer improved in September from the prior month and is expected to last through the remainder of 2013, owing to its turnaround efforts. The Plano, Texas-based retailer had announced that its sales for the month of Sep 2013 dipped 4% year over year but improved sequentially from a decline of 9.8% registered in Aug 2013.
J. C. Penney has been in troubled waters for quite some time, and has been grappling with waning revenues and higher losses. The company has not shown any signs of recovery in the recent past. This is evident from its 7th consecutive quarter of sluggish results on Aug 20. The company has been constantly lagging its peers, Macy’s Inc. (M), Target Corporation (TGT) and Kohl’s Corporation (KSS) in terms of performance.
However, the company has taken several strategic initiatives to drive traffic and conversion. The company reverted to promotions, which could be a successful sales driver this holiday season.
Investors remain cautious about the stock, as the company endeavors to recoup and give itself a major facelift. In a significant development, the company’s board of directors in Apr 2013 discharged the Chief Executive Officer (CEO) Ron Johnson of his duties after 17 months, as his ambitious transformational ideas failed to materialize. Consequently, the company’s former CEO, Myron Ullman was reinstated in his post.
The company will come out with its third quarter results on Nov 19. However, our proven model does not conclusively show that J. C. Penney is likely to beat earnings this quarter. This is because a stock needs to have both — a positive Earnings ESP and a Zacks Rank #1, #2 or #3 to beat the estimate — but this is not the case here. Although the stock carries a Zacks Rank #3 (Hold), but has a negative ESP of 12.12% (as the Most Accurate estimate stands at a loss of $1.85, while the Zacks Consensus Estimate is pegged at a loss of $1.65).
The above view is well supported by J. C. Penney’s earnings surprise history. Looking at the company’s earnings surprise history, it has missed the Zacks Consensus Estimate by an average of about 523.2% in the trailing four quarters.
Multi-Billionaire Marc Lansry = $JCP
THE COMPANY HAS BEEN GETTING HIT HARD BY SHORTS UNTIL RECENTLY... $JCP is on a run!
http://m.us.wsj.com/articles/BL-MBB-10857
Tomorrow is going to be a good day ;)
Marc Lasry, of Avenue Capital Group, made the investment call for the Invest for Kids conference, saying the bonds of the struggling and beaten-down retailer are worth their face value, not the 65 cents they trade near now. The call amounts to a bet that J.C. Penney, which started burning cash as sales slumped during a turbulent year, will survive.
“I think it’s a bit misunderstood, but everybody thinks it’s going to file,” Mr. Lasry said. “It’s kind of hard for this company to end up in bankruptcy when it has $2 billion in cash.”
Mr. Lasry said interest payments total only about $500 million over the coming years and that J.C. Penney should start making money again next year, making it unlikely to run into as much trouble as the bears think.
J.C. Penney has been locked in a downward spiral since activist investor Bill Ackman stormed the board and helped change management. In came Apple Inc.AAPL -2.49%’s Ron Johnson, who attempted a dramatic turnaround, but wound up seeing sales plunge.
“He was able to do this in one year,” Mr. Lasry said sarcastically. “It takes people lifetimes to do this.”
At one point, retelling the story of the troubles to the audience, he added: “I wish I was making this up, I’m not.”
Several long names have headed into J.C. Penney since Mr. Ackman resigned and the stock plunged. The company also brought back former CEO Mike Ullman and has seen results improve in recent quarters.
“It looks like everything is stabilizing,” Mr. Lasry said.
Thanks Ace, but I've been here. I'm one of the guys who brought you MJNA a couple times before it went up ;). I know, new management.
Good call on NTEK and FNMA.
Lets end the year with a bang.
*UPDATE for JCP*
Marc Lasry just said he's bullish on JC PENNY. Says, he owns stock and company is misunderstood. Says, JC PENNY has too much cash to file for bankruptcy. Says, JC PENNY will survive, sees bonds as par, expecting 25% return in 2 years. Says, noise creates opportunity as market does not like noise.
This is Lasry speaking everybody.
Google it.
Told you guys to buy in today... If you didn't, then tomorrow you're going to wish you had.
$JCP LONG
Marc Lasry just said he's bullish on JC PENNY. Says, he owns stock and company is misunderstood. Says, JC PENNY has too much cash to file for bankruptcy. Says, JC PENNY will survive, sees bonds as par, expecting 25% return in 2 years. Says, noise creates opportunity as market does not like noise.
This is Lasry speaking everybody.
Google it.
$JCP LONG
Marc Lasry just said he's bullish on JC PENNY. Says, he owns stock and company is misunderstood. Says, JC PENNY has too much cash to file for bankruptcy. Says, JC PENNY will survive, sees bonds as par, expecting 25% return in 2 years. Says, noise creates opportunity as market does not like noise.
This is Lasry speaking everybody.
Google it.
$JCP LONG
$JCP easy money tomorrow. Target = $9
Possibility of a BUYOUT? Could this be why THEY shorted JCP so much to the undervalued level?
Hey money runners! I'm back with another pick. $JCP. Target = $9
$JCP to POP! Tomorrow
Severely under valued company. Watch this hit $9
It'll probably gap up 1% or 2% higher than prev close, go up several points, then (IMO) she will come back down close to 2.2 and jump back up.
Could we see $3 or $4.... No idea, I don't take risks like that
That just means we are gaping up. Bigger number on the bid ore market indicates where we will open
I'm pissed that I can't buy pre market
It means I don't try to profit more than a 10th of a % than what I planned on profiting. Say it's a day trade, I'm up 1% and based on the momentum I decided that if I hit a 1% gain then I'd profit immediately. If I wait for 1.1% then I'm breaking my plan. If I break my plan, then I'm taking more risk and have a higher chance if losing.
Prior to my plan, I do as much DD as I can and evaluate the charts.
GLTY
I had the same mindset when I started trading. Until one day I sold one of my positions, then it dropped, I bought the dip and it went back up again. Swing and day trading ever since. I have a rule... Depending on momentum I will profit between 5-10% gains on swing trades and 1-3% on day trades.
I had 15k last year... Right now those 15 have turned into 270. Thanks FNMA, FMCC, MJNA, JCP, and DHI. Good timing and not being greedy pays off
Nah, that's people like me flipping. I traded about 11% of today's volume, I'm sure others like me did the same. Stop trying to scare people.
This is called DAY TRADING on a FRIDAY. You never ever ever hold over a weekend as a day trader.
That's why the price dropped. It might drop a little further down on Monday or go up... But it has NOTHING to do with insiders.
Sure, they might not know how to run a company at 100% efficiency. However, they do supply this great stock to make easy money in.
Tomorrow 3's or 4's.... Friday BIG DIP
Got back in today...
It makes sense... We probably made enough profit this quarter to pay off our debt to the GOV
Here we gooooo
2.25 next
I don't like buying .14's
.13's is where I like it.
We're gonna see a nice pop soon
No one is selling... Everytime I try to buy big blocks, I have to buy on ask. But still... Not enough shares to fill up my buy orders without making the price of the stock go up
I miss this board. Great swing play here. Always good to hold a long position too... You never know when she'll pop up 500% or 1000%. Buy the dips and be patient. This stock is what gave me the push I needed to trade the big boards.
GLTA $MJNA
I really want to see this go down to the 50SMA and jump off it. It'll confirm the reversal for me
We need more volume.
I think it still has to test the 50 SMA to go back up again. I don't disagree with you completely. I will buy the dip, but it won't happen until next week in the 1.30's
LMAO!!!!! Ahahahahahaha... Omg.... I can't stop laughing
Looks like you might be right
It's possible. The probability is what I'm more concerned about.
Unless people start to take profits like hell and causes panic selling... Then I see us flirting with the 50 SMA
I'm calling a 1.43-1.45 close