It does not matter if CNBC is bashing it. I think the party is over. When I enter a stock, I evaluate the risk/reward. When the stock makes a significant move, I always reevaluate. At this point I think the risk outweighs the potential reward. I locked in my profits yesterday at the close. If it retraces, I may reestablish my position. If I am wrong, I am happy with my profits and I will not look back. Good luck everyone.
I used to buy and hold -- I tried holding POT and writing covered calls -- rode it down from 60 to 38 before it started to recover. I have learned my lesson - I now reevaluate the risk/reward and walk away when the risk/reward dictates - I don't fall in love with a stock (well maybe AAPL). I may look at JCP again in a few weeks/months after the dust settles. I like the stock - Just following my new rules. I really think this is an overreaction and we will get a pullback to the 36/37 range before we head higher again.