take a look at the after hours trading on Friday, between 4pm and 5pm over 25.000.000 shares has been traded.
I asked Fidelity Money Manager about it and I have been told that was Option Expiration short covering
according to him over 38.000.000 shares has been cover their short position on Friday.
On Friday alone we trade over 256.000.000 shares more then total shares of the JCP. this not include the 84.000.000 shares
I believe that the shares of JCP are now in new hands
256.000.000 is do to the massive participation by day traders. 28.500 of that volume was mine. Long at 9.34 sold at 9.49... shorted at 9.45 covered at 9.09... went long at 8.91. Volume now a days does not mean NOTHING.
I have software and service that can tell me all the buy, sell, block, and money flow, the software able to sort all the INFO and tell me if it was more buyers then seller or if it is just short covering and the money flow and many more Information.
It cost me a lot of money to have this service but in the long run is worth it
plus I always check with my few money managers that I have an account with them.
by the way I just started to buy on Friday at 9.17 after I did all my DD
by the way in two day over 360.000.000 shares have been traded and the stock drop only 13%
someone is buying and holding plus Option Expiration plus end of the month window dressing,
plus the all market was down, plus the 84.000.000 shares did not help
one more thing in the opinion of Fidelity Money Manager believe that more then two third of the shares of JCP are now in a new hands
because of the big volume in the last two days,
His opinion is to accumulate JCP stock at 9 to 10 he see a turn around coming up
we'll see if he's right GL