Crystal.Balls

Let's face it, JC Penney is going bankrupt folks

NYSE:JCP   PENNEY J C INC
28 0 0
JC Penney is swamped with debt and the golden age of the brick and mortar store is behind us. The stock has been in a downtrend since the market top in 2007. The downtrend has taken the form of a five wave impulsive move, with the fifth wave starting earlier this year. Wave five should subdivide into five smaller waves and it appears that minor wave 3 began last week. Sell short with a stop below last week's low. Stop loss is above the high of two weeks ago. Initial target is new all-time lows. Final target is the pink sheets.
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