Tomorrow could be interesting when JCP reports, what I would think to be a crummy quarter. For now, I'm long M and will probably fly the coop in November. JCP could push M up tomorrow, not sure, but that's my play book., this minute.
I have a call position which is nicely ahead. The stock's price is following and nearly touching the upper Bollinger band. If it hits or crosses the band, that is considered bearish by traders who use Bollinger bands as a guide. My calls run until November, but I am not sure if there may be some resistance level issues along the way. I think we could hit $42 next week. I know I sound more like Woody Allen than Jim Cramer and my problem with what to do with those calls is a "high-class problem."