iBankCoin
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

J.C. Penney is Like Jenna Jameson These Days

http://www.youtube.com/watch?v=RF-kXwtzGlM

JCP might be so washed up and bad that it is good.

Be the bankruptcy risk as it may, 12631 Trading Service member “mickeyp” is one of the most skilled falling knife-catchers i have ever seen in my life. He routinely and skillfully catches these knives with the ease of Bill the Butcher throwing them in this scene. Mickey is in from $6.40.

Turning to the chart, you can see yesterday’s strength is more than spilling over into today.

Watch that daily chart falling wedge for upside resolution, to at least retrace up to the scene of its purple line support dating back to 2000, which it broke a few weeks back.

I am not saying this is a healthy chart at all. But if you are willing to take on the extra risk there me be that extra reward for a few points higher. I say keep a stop-loss below Mickey’s entry.

Earnings are scheduled for November 8th.

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JCP

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24 comments

  1. RC

    MickeyP is a beast. SO many good traders inside iBC’s trading room, 12631.

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  2. TheOSU

    Check out WST , low volume , earnings on Monday . Only for a long term investor .

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  3. JPMorgains

    She sound heavily medicated haha.

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  4. Sooz

    OOOh Jeeezus..
    that’s so bad, Chess

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  5. inloworbit

    that was happy Jenna, afterwards she was backstage eating a bag of cheetos with a kitty cat

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  6. Paolo Sobretodo

    I like this. Watching JCP closely

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  7. Granpa

    Chess, when I saw the heading I thought you meant it just keeps going DOWN over and over.

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  8. JCraddock1

    LMAO, the anchor ladies facial expression the last 2 seconds of the segment says it all….

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  9. speerothekid

    I see what you did with that thumbnail image.

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