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Why is this surging? P/D in progress? I was in this in the high .30 range a while back before I made some change and sold.
This company was legit. I was even able to see the technology working in a restaurant (the restaurant has recently folded). There was a window of opportunity but now ordering devices are everywhere now, even McDonalds...so great idea, piss poor execution and greed got in the way.
Happy Holidays.
Good job for those that kept the stock through earnings report. Logic has no place in the stock market, I guess. ;)
No idea...playing a wait and see, which means most other players are probably doing the same which means betting the bears will be in charge for a few days is a safe bet.
Didn't sell at the top, but close to it (6.10)...looking for re-entry after whatever transpires from earnings.
I don't thing the swing back will go as far as last time, I'm guessing worst case 5.50. We'll see. This just may be the lunchtime pasttime for shorters and we start adjusting later in the day. Figuring out the enter/exit zones for this one is tricky if you're basically day trading.
Large sell and we're below $6. Sold to recover my losses with a decent gain but feel like we're in sputtering mode again. Swings are par for the course for this one.
Not making huge swings...but a lot of churning...which is fine...but we are finally appearing to stabilize and moving in a more upward direction. I'll take it one day at a time.
4.90 to 5.20 seems to be the current channel.
The removal of stores reminds me of the sequester that was in place. It doesn't remove the bleeding, it's just to curb spending. Real turnaround will be management's actions in the stores that are profitable, finding that template and replicating it, and being aggressive in their actions.
And usually retroactively.
Saw a CNBC video where a woman last Nov valued the company at $1 (At the time the stock was $9). I totally agree this stock is all risk/reward. Either win big or loose big. Of course, you can hedge with options, but you get the point.
This stock reminds me of Ford in 2009. It's all in their hands to become relevant--not just another retailer. I don't believe Cramer when he says the company will just be a "nothing".
Value investors will continue pouring in, especially with the obvious facts in front of them. It's now in management's hands to pull this off. Status quo need not apply. For those that are invested...take the time to re-visit JCP and communicate to them what you like/don't like. I did last year and will do so again this year.
Charting Methodology
I think the answer for risk on is--his MO is charting. That is his methodology and that's great. My only point is that news, investor reaction and customer perception (fear, etc) are factors which will distort any technical analysis. And that's clearly relevant here. Very few things in stocks and Wall Street are purely a binary data analysis decision when it comes to one's personal tie with money.
I've seen penny stocks in "oversold" all the way to no bid. There's no absolute rule the chart HAS to correct itself. All things equal, yes.
In my opinion, stabilization of price has to happen first before any charting action can be applied. We "may" have that today if the first 30 minutes is any indication. Personally I'd be tickled pink if we close at $5 or better today.
GLTA.
Perfect Time To Buy J.C. Penney
According to a just posted Seeking Alpha article...
http://seekingalpha.com/article/1994231-perfect-time-to-buy-j-c-penney-yum-brands-has-40-percent-upside-and-whats-next-for-the-market?source=yahoo
UPDATE: J.P. Penney skids as relief turns to disappointment
12:57 PM ET 2/4/14 | MarketWatch
By Sue Chang and Ben Eisen, MarketWatch
SAN FRANCISCO (MarketWatch) -- Shares of J.C. Penney Co. reversed earlier gains, heading south on Tuesday as initial positive reaction to quarterly sales numbers quickly soured as investors took a closer look.
J.C. Penney Co. (JCP) shares tanked 10%. The retailer announced a 2% increase in same-store sales for the fourth quarter, the first time since the second quarter of 2011 that comparable sales grew. In the fourth quarter, jcp.com sales grew about 26.3% year-on-year. In addition, the retailer said it closed out the 2013 fiscal year with total available liquidity in excess of $2 billion.
But analysts at Sterne Agee suggest that the numbers are "not good enough" and that the pace of improvement is not quick enough.
I guess a squeeze will happen, unfortunately my buttocks are the only thing squeezing right now roflmao.
Almost 70 million volume. Incredible. Edit: Now in the 4s...
For some reason, Led Zeppelin "When the Levee Breaks" is in my head:
"Going down...going down now...going down..."
Hitting $4 imminent... just a couple of pennies away now.
I estimate a $4.88 close; open at $5 tomorrow and go down to 4.30 tomorrow. Sounds about right eh?
I've never seen a pounding as thorough as this. $4 looks realistic to me now. All we need is a day or two at this rate lol.
Looks closer to .0065 than $65.
Charts may be screaming buy, but it's clearly SELL. I can't stomach 8% loss daily. Re-positioning once the bleeding stops.
Interesting article...and I agree. The best thing that long JCPers can hear is a CEO replacement given the latest IR debacle. CEOs at this stage of the game are sacrificial lambs. If the numbers are better, queue in the 2nd phase of the recovery plan.
Thanks for the laugh. I'll refer to this post when we start moving in a few months.
Hey starbuxsux, I'm actually not shorting...taking advantage of the dips. I never put all my chips in the first buy. I'll also not be an idiot and keep it if it goes down another 10% or so, but I feel comfortable we could have brighter days ahead.
Now, if my hands bleed from catching a knife, so be it. At these levels I still see value here. It wouldn't take many of the "right" moves to move sentiment.
Compared to some of the bio-techs we've played...the swings here are laughable.
Short seller cleansing today imo. We'll see.
Beautiful...loving it!
I see value here, which is increasingly difficult in today's high priced market. My father's town was affected by the announced store closings, and there needs to be more corrective action. The next year will say much in terms of where JCP wants to be long term. I'm cautiously optimistic.
Amazon and other online retailers will no longer be able to escape sales tax for much longer...and I think there will be some changes in where consumers spend as a result...it may never go back to previous levels...but there will be some "adjustments".
Been here a year and counting...patience is a virtue.
I'm strapped and ready. No need to talk this one up. Proof will be in the stock price.
I agree. I'm a buyer here.
Oh well. Given personal computers this past year dropped 7% in sales and tablets have continued rising makes this as common as a car. Thanks for posting, seeing this stock symbol is a blast from the past.
Looking for re-entry at .20 or lower. Happy Holidays.
I made what I wanted...in and out unscathed with my modest profits...Happy Holidays to all.
I'm taking a chance and bought in for what I think will be a nice upswing...I'm happy with a 30% short term return with modest number of shares.
It definitely looked that way towards the end of yesterday...I just know these kind of "catching knife" plays are always difficult to time...and when in play you have to play it like a "hot potato". It's totally against my overall strategy to invest in busted companies but a potential trading play it may be.
I fully support this post. Well said.
After the recent news, what prospects have they? I'm just curious what is the driving force behind the turn around. Sure, a last gasp move in the stock is one thing, but when you talk about long term turnaround, what do they have at this point? Thanks...
Sandwiched between bad news and a potential R/S. Dead cat bounce or not, the walls seem to be closing in.
I am not an active trader...I see value in companies and trade on events. I do < 10 transactions a year, but they are calculated.
This isn't a micro penny stock (yet)...let's up the maturity here and treat it accordingly.
Great strategy for you maybe...I've been burned way too many times doing that. I'm fine taking my shares off the tables on key material events and waiting for the next cycle. Mind you not all of my shares but enough to be comfortable to be able to hedge in any direction and feel comfortable with any gains or losses incurred.
Accumulated more shares today to my overweight total...we'll see what happens here in 2014.