JC Penney

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Reub
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JC Penney

Post by Reub »

I have been toying with the idea of purchasing some stock in JCP. It has plummeted over the past months but now seems to have stabilized (and even is having some very good days...e.g. was up 5.5% today on a terrible market day). I'm thinking along the lines of what Sears stock did a while ago, dropping by 65% before rebounding by 100%. JCP has brought back their old, more successful management group over the last few months and they do have some prime shopping real estate locations. I took a walk through a JC Penney store recently and noticed better shopper traffic and much better merchandise.

http://online.wsj.com/article/HUG1741329.html?dsk=y
Last edited by Reub on Thu Nov 07, 2013 3:22 pm, edited 1 time in total.
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smurff
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Re: JC Penney

Post by smurff »

If you invest, what's your exit plan?
Reub
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Re: JC Penney

Post by Reub »

I hadn't thought about it much. How about for every 10% it rises I remove 20% of my original investment?
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Rien
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Re: JC Penney

Post by Rien »

Reub wrote:up 5.5% today on a terrible market day
I have not investigated, but in general stocks that do well on a bad market day are heavy shorted.
Playing the bounce then often fails on the next market up day.

(But if you can catch a short squeeze... wow)
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AdamA
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Re: JC Penney

Post by AdamA »

Why JCP? 

It seems like they're just another mediocre department store.  Do you really think it's a company worth the speculation? 
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Reub
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Re: JC Penney

Post by Reub »

I'm remembering what happened with Sears not that long ago. They have similarities in that they are old department store-type businesses with excellent real estate locations that went afoul, profits fell, and their stock plummeted. Sears rebounded by 100% and I think that JCP has turned the corner on their management issues by restoring the team that was in place when they were doing well. It is just really a hunch and one that I have not yet acted on.
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Ad Orientem
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Re: JC Penney

Post by Ad Orientem »

Everything I have heard about JCP is bad. If I were going to do anything speculative with that stock (I'm not), it would be a short sell.
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Reub
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Re: JC Penney

Post by Reub »

Appaloosa Management, run by David Tepper and having, I believe, a 10 year return of something like 25% per annum disclosed today that they have recently purchased close to 750,000 shares of JCP.

http://www.businessinsider.com/tepper-b ... fa-2013-11
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Re: JC Penney

Post by dualstow »

Reub wrote: I'm thinking along the lines of what Sears stock did a while ago, dropping by 65% before rebounding by 100%.
I remember buying some Sears Holdings stock after reading about how great Eddie Lampert was, and how he was touted as the next Warren Buffett. I held on for several years and then finally gave up. I guess I missed most of the rebound.
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Reub
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Re: JC Penney

Post by Reub »

JCP up another 8.5% today! Now if only I had bought some. :'(
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Ad Orientem
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Re: JC Penney

Post by Ad Orientem »

Reub wrote: JCP up another 8.5% today! Now if only I had bought some. :'(
That will teach you for paying attention to me. With that kind of advice I should have been a mutual fund manager.
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Reub
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Re: JC Penney

Post by Reub »

Up another 7.69% today! This ship has sailed.
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Re: JC Penney

Post by MediumTex »

Christmas sales must be looking good.

JC Penney is like a dinosaur that is trying to find a plastic surgeon to make it look more like a mammal.
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Reub
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Re: JC Penney

Post by Reub »

It better find a Park Avenue plastic surgeon after retreating close to 20% last week. Up 4% today, though.
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Re: JC Penney

Post by MediumTex »

Reub wrote: It better find a Park Avenue plastic surgeon after retreating close to 20% last week. Up 4% today, though.
Even if it finds one, it's still a dinosaur.
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Re: JC Penney

Post by flyingpylon »

Reub wrote: Up 4% today, though.
I ordered some pants from JCP yesterday, that might have done it.  (Though I got to use a 25% off coupon and a $10 reward coupon on an already-discounted price, so not sure...)
Reub
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Re: JC Penney

Post by Reub »

flyingpylon wrote:
Reub wrote: Up 4% today, though.
I ordered some pants from JCP yesterday, that might have done it.  (Though I got to use a 25% off coupon and a $10 reward coupon on an already-discounted price, so not sure...)
Haha! That definitely did it without a doubt!
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Re: JC Penney

Post by Reub »

The stock is sky-rocketing on great earnings results. Up about 20% today after market closed. Why did I let all of you naysayers talk me out of purchasing it? ;)
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Re: JC Penney

Post by MediumTex »

Reub wrote: The stock is sky-rocketing on great earnings results. Up about 20% today after market closed. Why did I let all of you naysayers talk me out of purchasing it? ;)
JC Penney's headquarters is about three miles from my house (they have a very nice campus).  I drive by it almost every day.  I'm sure everyone there is happy right now.
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