Whether you are short or long this stock, you have to admit, this is embarrassing for Ara Hovnanian and the Hovnanian family. No other major housing stock has failed to impress investors. Other housing stocks are not exploding ahead, or are they necessarily "wowing" their investors routinely, but they are keeping shorts at bay. Anyone long this stock should be asking questions...serious questions. It has been said that the housing rebounded more than 2 years ago, but this stock is certainly showing the incompetence of Hovnanian and his crew.
I understand the argument that this stock was $2, but I also want to point out that this stock was much higher. Let us focus on the fact that HOV is trading near a mere 5 bucks. This is not a company that deserves credit for where it is, in light of what has been happening in the world of real estate. Excuses abound, but the general investing public has passed off Hovnanian as a joke. And speaking to that, I'd say the Hovnanian family has quite a bit to prove to the world if they want to escape further humiliation.
The only reason it is here is because there was huge new buying around $5.65-$5.75, and they are manipulating the price down here because they are hoping to get those buyers to short. But it's not happening, and I don't see this going to $5 unless the traders are looking to lose their shirts. Look for $7-8 in the coming weeks/months.
Whether you are buying it or holding it, are you frustrated enough??
Everyday, you must have noticed other stocks that are kicking butt and taking names, but this pos has been hugging $6 for...like...forever! You ever consider that it is time to just dump this garbage and make your money work somewhere else?
Don't take my word for it! Just look at other housing stocks that have gone down and then back up. HOV has been at $6 and has no idea how to go up. Just dead money if you ask me
Today was a good day. If you made money, please consider going to J.C. Penney and buying something for you and your loved ones. Short sellers can do nothing but badmouth. But you can help JCP rise higher if you open your wallets and give J.C. Penney your business.
Sound fair and reasonable to you? As an investor who made a lot of money, I feel it's the right thing to do to celebrate! Let's work together to make J.C. Penney's next quarterly results even better!
Congratulations on today, good luck for later, and thank you for reading!
Correct. JC Penney did quite well actually, and that was for a bad winter. Retail should only get stronger over the Spring and Summer, and really peak come the holidays. This is a long term hold. Have a great day.
I'm adjusting my price target higher to $11. They are trying to tempt people into selling here and taking little profits. We should be above $7 this week if you ask me. Good luck to you.
Not enough. My current price target is $9.12 based on my own charts. Will lower/higher the PT after hearing the CC.
The "folks" you are talking to are money managers betting against you. Studies show that mom and pop investors are significantly weaker when it comes to holding stock, and they will sell into fear before the deep pockets decide to cover. But you have big money on your side now. I reveal myself in this manner because it is the only way to get short sellers to take me seriously. They won't now, of course, but as they say in this business, money talks. When you see JCP steadily climb up that bullish channel, my words here will have more effect on them. In any event, relax and enjoy being a shareholder. It will pay off.
My post was made to reassure long shareholders that JCPenney isn't going anywhere and that the share price has been manipulated down for two objectives. One, to get retailers to sell at a loss. And two, for insiders to accumulate. You probably aren't interested in reasons to be long because you are short, I assume. Fine, that is your bet. But let me warn you, I've been in a number of stocks over the years that were left for dead, only to surprise to the upside and leave all the dreamers still dreaming that they had gotten in. Anyway, sounds like you are new to the markets if you don't understand position initiation. Investors never look for a bottom and buy there. Investors buy INTO a perceived bottom when they feel an oversold condition has been reached. That's where we are sir/madam with this stock. Again, this is not about tomorrow, or Wednesday , or next week or next month. I'm here to stay, and being that I'm a 100% cash buyer (no margin), I've got time on my side. Shorts and options players, well, the clock is ticking on them however.
Good luck to you...may the smarter man/woman win.
You might have misread/misunderstood my post. I am not a day trader -- what happens on Wednesday is irrelevant. You are talking to a long term investor. And the points I made are all based on a long-term strategy. If it goes down, great...I'm buying more. If it goes up, I may consider adding to my position based on what I hear in the conference call and my own analysis of the report.
I'm officially announcing that I am buying JCP here. Today I purchased 2500 shares at $5.25. Not a lot, but that's just the start. I expect this stock to fall some more as I'm sure the market makers want to scare people like me out. But as a long term investor, I am prepared to buy more on dips and plan to hold my shares for 1 year.
The vast majority of poster lack credibility or make up things, and I don't expect to gain anyone's trust. I am making my bets that JCP will return to double digits by summer, if not sooner. I have my reasons, and here are some important ones:
First, we are coming upon an election in November. The last thing Democrats want is a retailer such as this going bankrupt on their watch. Going lower will not help either, as a weak retail indicator will make it VERY difficult for Democrats to prove that their leadership is working. It is mandatory for them to show the economy is improving, and that means consumers are buying, and that means JCPenny MUST have a turnaround.
Second, Target is suffering since their security breach. That's not in the news, but most consumers who shopped their went to competitors. JCPenney is surely benefitting. People are not spending an arm-and-a-leg to shop Macys and Saks, as much as Wall Street wants you to think. If you ask me, it is THOSE stocks that are poised to fall. Walmart is losing customers to higher-end retailers such as Kohls and JCPenney. These are facts that you will never hear admitted on media.
Third, let's admit we are looking at pure manipulation. This stock has no business being at $5. LMAO!! What an opportunity! We're here because hedge funds want to scare those who were in since $20...30..40...maybe more! This is a shakeout of the highest order, with insiders begging people to throw up their hands and give up! Very few are dollar-cost averaging, but what is worrying insiders now are new investors initiating positions.
It's oversold, period. Will turn soon.
Sentiment: Strong Buy
Apparently you haven't been playing this game long enough to know who is who. Those giving you the thumbs down represent any entity that prey on the retail investor. These message boards are free, and knowing that, the people in here who post 24/7 work for short sellers, hedge funds, market makers, Wall Street, insiders, anti-retail investors. Better to just post your opinions or thoughts here, but know who your audience is. If you sound like the typical dreaming long investor, chances are good that you will get attacked. On the flip side, if insiders are quietly selling, they will hammer you if you even hint about selling. Look for clues. The same cons that were calling for $70 when this was trading at $8+ are still here. Go look at my history. I told people to sell. In retrospect, you can see that if you had listened to me, you would be sitting pretty. Now I've been kind enough to give you this much explanation, and if you return with an insult, then it serves you right to be treated like an idiot too. So think about what you say back to me before you post it. You want logical explanation, I gave you some. And if you want respectful discourse, then you have to appreciate people who take time to give you a respectful response.
I lost $1200 today trying to beat the MM. And this is the first time in nearly 30 years of trading that I experienced a situation where in approx 50 trades today, I lost EVERY time! They had some maggot on my tail all #$%$ day! I was a victim of illegal #$%$, no question, and I'm seeing a securities attorney about this tomorrow. I've been in MGM since $11, so I've made a nice penny with this, but today was just unacceptable.
I've been trading this stock all day, and the market makers are having a field day with me! Every time I buy, the stock goes down. Every time I sell, the stock goes up. I've been maintaining 20K shares so as to not get shaken out, but they are really manipulating this baby today!
Bottom line, this stock is going to $30+. May not happen soon, but will happen based on what they have been trying to do to me. Keep buying the dips and hold this puppy. GLTA
Sentiment: Strong Buy