I thought I missed the bus to cover at 27.99 today. Any realistic expectations for tomorrow?
Looking at Key Statistics, JCP has 101.90% Institutional ownwership (how does that happen?)...Anyway, I am wondering how many institutions will dump because of no dividend...I think shorts won't have to cover at least until next earnings...Just a thought...
It might find some short covering support today. But the forecast is awful The company basically said wait until 2013 for a turn around and we are canceling the dividend.How much of these institutional owners can afford to wait with this POS on their books? very few would have the patience. Not to mention their charter may be to only invest in Dividend stocks.That is why even if you lock profits today, this is a good candidate to keep in your short portfolio because the selling is going to pick up steam in days and weeks to come.
20% at the most is looking likely.So around 27.5People claiming for a sell of greater than $8 (25%) and stuff are out of their minds
i would imagine that 20% is possible. i plan on selling the puts i bought today if stock goes below 27.50 tomorrow. More than that is a push in the short term.
I think we could see 25.00 maybe 24.50.