I would not be holding a short position going into earnings tomorrow. All those that have called out JC Penney will be eating their words. Go buy Macys, Kohls, Nordstrom that got creamed with shares valued at many multiples more than JC.
Sentiment: Strong Buy
I'm predicting a good quarter. They have worked hard to cut costs and remarket themselves, taking market share from many others. The headlines don't want to tell you that but I'm a believer!