by Gavin M.
The stock gods have been so kind. Just as the BlackBerry comes to what seems like an end, they gave us another gift to short - JC Penney. The news about JCP is no longer new. There have been many misquotes and etc. on it.
Essentially both companies are fighting to stay alive. One (guess which) already seems to have a "buyer" and the other is trying to deny reports that it is going under. Now that shorting BlackBerry has become complicated, JCP takes its place on the limelight.
JCP's troubles are not new. This was already exacerbated by the fact a few billionaires were/are still in the stock. The CEO of JCP has become a revolving door. Many have tried to turn it around and it seems no one has truly succeeded. Never allow the media to keep clouding your judgment on this. Follow the price, and follow the momentum. The media has other intentions and it's not always for the good of the trading public.
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Traders from Equity Sense will be writing on this blog on positions and other market-related things.