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J. C. Penney Company, Inc. Message Board

  • markitvalue markitvalue Feb 1, 2014 11:30 AM Flag

    Longs vs Shorts, and the line in the sand.

    On one side of the sand you have the Longs who believe JCP is a turnaround play with a stock price that has lost significant value, and attempting a comeback. Longs believe the stock could double or possibly triple from here, not immediately, but never the less could happen.
    2-3 times your money ain't bad, worth the wait, imo..
    Many more people could join their ranks if they have the stomach for the risk associated.

    On the other side of the sand are the Shorts, who believe there's no way this turnaround will succeed, and are hoping for a complete failure. Unfortunately for them there are no new openings for new shorts as JCP cannot be shorted now.
    So, no NEW shorting tells me there is limited downside pressure from here till earnings day.
    Bad news JCP gets hammered...Good news, it's off to the races...Either way, the shorts find themselves in handcuffs till earnings. Add to that, it's unlikely that JCP will report bad or devastating numbers, IMHO..

    On 1/30 almost 56 million shares traded. JCP closed down, speculation a fund, or biggie may have sold?
    After close on 1/30 Predictions of a 'Flush', by a CNBC commentator gave the longs pause.
    On 1/31 last day for the mutuals to report holdings, but the flush evaporated and the stock closed up.

    BTW Jim Cramer CNBC who has been critical of JCP is now hinting that JCP may very well be a winner..
    Read it it's out there, you know where to find it.

    So then, "what's in your wallet"? Maybe be restated as, "which side of the line in the sand, do you want to be on?

    Sentiment: Hold

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    • more astounding idiocy from a unicorn pumper. Was there an NYSE decree that placed a shorting moritorium on JCPQ? I think not. And your argument is false. Its not about 'shorts vs. longs'. Its about the topic you baggies are afraid to discuss. The involvement of Goldman Vampire Squid Sachs, that basically owns this scam as its play thing, until it decides (along with JP Morgue) that its time for JCPQ to head for bankruptcy court, so that its 'liquidation scenario' released last September can be realized. You remember that lil ole $2.2 billion 'loan' that JCPenniless took from GS, right? Start there and work forward if you have brains to follow along.
      One more thing, please show me where the SEC or DTCC have ever done a thing about naked short sellling?

      Sentiment: Strong Sell

    • Markit I agree up to the point of not being able to short it. You may not be able to borrow shares from actual holders but market makers and brokers can short the living #$%$ out of it as they did on the 30th with a wink and a nod there is a borrow arranged for. Then by the end of the day or within 5 days as to not trigger the reg.sho naked listing they return them and are flat. Happens all the time.

      I read and posted the link to finra dailies for the nyse and the nasdaq which had approx. 25 mil (memory?) in volume between the 2 exchanges and 11 mil shares shorted between the 2 that day. On a 56 mil share day the rest of the trading occurs on smaller regional exchanges but primarily the 2 big ecn's, arca ex and direct edge which I am not aware of any short sale reporting.

      There would have been a huge short there as well as they are discounted and where hedgies and dark pools route trades. Watch l2 and see how often and the volumes they are responsible for at the top of the book. They short this and cover all day for pennies and lately it's nickles,dimes,quarters and more like dollars. With "Point of Entry" level 3 they see the entire book of orders unlike us just seeing the highest b/a from each exchange. We see nyse has a 14,000 sell order the top of their book but there could be 330k waiting behind it that keeps reloading. That goes for each exchange.

      They know when to hit it each way.
      I watch L2 but we are blind and kidding ourselves if that data is telling us much.
      I've taken a huge position @ $6.64 by last Friday 25th thinking I saw the bottom and a reversal starting as occurred 10/21/13 and they proceeded to come in Monday and beat it silly with Thursday possibly being the flush needed to begin a reversal. It's my opinion the price has no relationship to the fundamentals.

      Nothing more than a bear raid on a weak company with Ackman behind it trying to kill JCP & vindicate being pushed out & selling his stock at $12 for a huge loss. His third failure.

      • 2 Replies to alleyoop722
      • Oh look who finally showed up. A week ago you were telling us how JCP was done falling and here it is, down another $1 (about 15%) in the past week. Your credibility is waning.

      • only 3 or 4 companies can short the float (or beyond) & round robin (not report it) & get away with it
        & likely the usual suspects are doing their thing
        ackman may well be involved but i'd guess he is more of a minor player as well as a dozen or so hedgies that got the green light
        this is likely a year+ to get close to real valuation
        but that should be 100% gain
        & more if you can trade the volatility

    • Mkt
      That's the long and short of it.....
      Keep in mind the mighty gs has remained quiet for 2 wks
      We longs can only hope they are ready to bid her up now...

    • Who said new short positions cannot be initiated on JCP? Your broker isn't the only one out there.

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