9/6/17 Saving J.C. Penney (JCP) from bankruptcy, part 2

in #jcp7 years ago

Part 2 in my series about my attempt to save JCP from a bankruptcy filing. Part 1 can be found here:

https://steemit.com/jcp/@joejustjoe/7-31-17-follow-along-as-alexmorris-and-i-try-to-save-j-c-penney-jcp-from-jeff-bozo-and-amazon#@carlperna/re-joejustjoe-re-carlperna-re-joejustjoe-7-31-17-follow-along-as-alexmorris-and-i-try-to-save-j-c-penney-jcp-from-jeff-bozo-and-amazon-20170905t144657002z

On the run from the low where I initiated my long position that generated a 50% gain via JCP call options, teh high for that move was 3.97. JCP then confirmed that high with a move thru $4 last week. It is now attacking 3.97 and actually pushing thru it. Getting ready to signal a new short term sell so we will see if a new 52 week low is generated in the coming weeks. Sell signal not quite in yet but I will log the $4 price as the sell numba.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=jcp&x=50&y=15&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11

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9/6/17 12:30 PM: Sell signal now triggered in JCP as it trades at 4.05. I wouldn't consider a personal short unless it traded to next major resistance at 4.50. But I will log in an options trade here via the Oct 20 expiry $4 puts at the current .29 market price.

where did you go?? JCP on the way to bankruptcy