I think the company can survive and long term investors could make out well, but I think you are right in the short term. I might try to trade it off that 2001 low with a tight stop.
Sears is still fine, I think, and it would REALLY benefit from a JCP bankruptcy. There are many small malls across the country where Sears and JCP are the two main players.
This is going to get VERY ugly trying to unload these shares.
I'm not in or out, but it might be approaching a point where there are actually no more SELLERS left.
Stock is down near 52 week lows, and I actually saw a lot of people shopping in their this weekend! Comps should be ridiculously easy. Perhaps some positive headlines are in the works? Might be worth a shot.
Some parents might blame violent video games, as some news outlets have.