The index funds have to sell off their shares of JCP due to JCP being removed from the S&P 500 this Friday. Naturally they're doing their best to get everyone to run the price up on panic, then the index fund sells into each of the mini rallies.
Two hedged funds loaded up JC Penny stock last week at low $9 to bet on the big recovery in 2014. CEO of JC Penny loaded up a million dollars worth of stock this week. JC Penny is on track of business improvement so far with higher sales and moving the inventory from Ron Johnson time to start new and fresh. This is going to be a $22 dollars stock next year.
Sentiment: Strong Buy
because management is working hard to save the store and thousands of jobs....
still a lot of work ahead but jcp is moving in the right direction,,,
when this pulls back to 9.50 early next week,,,buy big..to $10 then $12 by 1st Q 2014