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J. C. Penney Company, Inc. Message Board

  • bamm5 bamm5 Oct 22, 1999 10:58 AM Flag

    You're NOT being difficult

    And I wouldn't argue with you on any specific
    point. Look, I am long JCP (much to my chagrin). This
    year I was stopped out once at 42.5. Then I rebought
    under 37, and if I had let my stop take me out, I would
    not be so blue today. But I thought I was smarter
    than the market, which is always a mistake.

    I
    agree that JCP is undervalued. Unfortunately, my policy
    is NEVER, NEVER, NEVER average down. I would average
    up if JCP bottomed and started moving
    up.

    Your argument about population trends is valid. BUT,
    the drugstore business is a difficult one, fraught
    with danger. Rite Aid and Pharmor are failures, WAG
    and CVS I think are trading at unreasonable levels.
    It is not a nobrainer, open up the doors and make
    money. Third party scripts, others selling outfront
    merchandise cheaper -- these are drags on profits. So
    management has to be VERY good.

    Is Eckerds? I don't
    know. I was confident that Thrift WAS.

    Oh, and
    one other thing. I PRAY that there NEVER is
    government subsidized medicine to everyone (at any age).
    Free markets produce opportunities and profits.
    Government programs promote waste and fraud (on a good day),
    with higher taxes. We have enough government
    already.

    Have to go, can talk (much) later to any
    response!!!!!!!!!

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JCP
10.23-0.54(-5.01%)Sep 19 4:05 PMEDT

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