workingtraders
Long

Long idea for J.C Penny ($JCP)

NYSE:JCP   PENNEY J C INC
355 6 3
Technical Play

1) Key Fib area buyers have stepped in
2) Bullish Harmonic Pattern
3) March 2009 support is holding
4) MACD trend is rising.

Target is 17$ dollars.

Long 12.77. Stop is 12 dollars for now.
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LONG 12.90
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nice!
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taking 1/3 off here at 13.40
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taking off another 1/3 here 13.90
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sold rest at 13.40 due to earnings coming out tomorrow
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