Everybody "knows" that Amazon (AMZN) is the greatest retail entity out there. And that's exactly why the stock price of AMZN wil be cut in half at least 3 times over the next 12 months. But is it too late to save J.C. Penney Co. from going belly up? Follow along as my new charting protege @alexmorris and I not only try to prevent JCP from a bankruptcy filing...but who knows, perhaps there will be a blue light special along the way too. No wait, blue light specials are at Kmart. Nothing Alex or I can do to save that farce of a retailer from bankruptcy. :O
As of right now JCP stock closed at 5.56. I consider it an intermediate term short with a downside target to 4.50 minimum by 8/18. I will log in 5.55 as my sell numba and I will also post an options trade if it continues to move higher from here.