I would much rather buy a stock based on its true fundamentals and outlook than buying based on the desperate hope that the manipulation will continue always here as some of the JCP pumpers somehow believe.
Think about it.
I am surprised that there have not been more downgrades yet.
Nothing is desperate. The float being tight and the amount of shorts preventing the stock from going down gives longs the time needed for JCP to turn around. I believe the company will eventually succeed, in the meantime I'm glad the float is tied up and there are a lot of shorts to support my position. Everyone on this board constantly forgets the real estate value as if it was worthless. That helps support the major players thinking like Pershing and Vornado.
dcfabc gets it. Dumb shorts are just all knotted up with the fact they can't get it pushed down!! Mad as a Hornet's Nest!! Can't stand that they bet against the grain and keep losing every day. Shoot off at the mouth about everything wrong but can't get it down a penny and when they do, the Stronger hands grab em aroung the throat and shake them loose again and again!! Only going to get worse too, because the earnings Will get better next quarter and then this will hit 30 in a day!!!
Wall St. big boys can have fun playing their games with shorts. But eventually fundamentals do come into play here no matter how many longs convince themselves that the big boys will protect their long positions forever, move this bloated stock to new highs despite its crappy fundamentals and questionable outlook, and keep treating CEO Johnson with kid gloves.
You shorts or just bashers continuously cry why is JCP going up. I personally wrote the answer many times weeks ago. I never blindly defended JCP or pumped as one dummy claims. This is the stock market. You may understand the fundamentals of a company, you may know how to analyze technicals, you need to also understand stock, how it trades. Whenever you get a large short percentage in an issue compounded by most of the float in good hands the share price is going to be pretty much where the good hands want it. They can squeeze anytime they want. The only way stock gets freed up is with up moves that entice some selling. That's the reason jCP is up and those of you that want to understand glad to help, those of you that continue to short and cry manipulation, so sorry, learn what stock trading is about.
The fundamentals are still terrible here. That should count for something. The only thing supporting this rally is hopium, manipulation by the big movers (I.E. Ackman and his clones) unbridled enthusiasm, and too much trust in Johnson's turnaround plans rather than a close observation that JCP was downgraded to junk staus for a good reason.
Market is still overbought IMHO. Bulls are still trying like crazy to convince retail folks that we're going pass 2007 techincal levels.....but the bears are coming out of hibernation and they are hungry. Correction is coming.
Think about this.....LOOK at the numbers. I ask you so maybe you will look. what is the number of outstanding shares? What is the number of the amount of the float? (Float- tradable stock) What is the amount of shares short and that percentage? Now who owns exactly how much of the float? Will any of that stock get sold? (good hands) How will there be selling? The stock needed to move up to free up stock.
You are just full of Shayt! it is cheap based on what?? you call it cheap because it was 40 last yeat and this year is 20? NFLX was 240 last year and hit 50! when a company doesn't make money and in fact lose, how could you call it cheap?
come up with better excuses, you know like all of us, they are pumping this and that horrible earning should have pushed this to 15, not 24! I can understand why you talk like this, you are stuck with your long position, hope you can get out with less loss
Manipulation. There are lots of Johnson clones running around Wall St. drinking the "townsquare" Kool aid, bragging about the new blueprint designs, and convincing investors that JCP is actually buy here.
But the reality is that JCP has pulled guidance and admitted that year end profit targets will be missed. This comes after the worst quarter in a long long time.
JCP is dead money and is a very risky retail play at a time when the market is overbought.
I absolutely hate when Longs do this.
They buy this BS, and drive a garbage stock higher, they get some dummies to jump on with them since they see how resilient it is, and then it all goes to heck when the sh%$ hits the fan.
Unfortunately, that is the name of the game here at crooked street.
I just can't believe this over all market-freaking 6 weeks and not one huge sell off, the Obama boys sure know how to work their magic in these pre-election months...