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Two Ways To Play: J.C. Penney Too Fashion Forward For Its Own Good?


Strengthen your portfolio in good times and bad.


Penney Tries Out High(er) End

The Wall Street Journal reports J.C. Penney (JCP) is launching a new line of moderately- priced apparel aimed at the "California cool" woman. The collection, called ALLEN B., will initially be on offer in 600 of J.C. Penney's 1,083 stores.

Some question the higher-priced strategy, as consumers continue to cut back in spending. The company reported a 12.4% decline in sales for September and slashed its third-quarter earnings forecast. Professor Scott Reeves mentioned Penney recently in an installment of Quick Hits.

From the Bull Pen
: In retail, bulls can consider Amazon (AMZN) for a trade. Although the challenges for the company headed into the fourth quarter are great, the stock may have upside momentum in the short term. Sell stops can be set below $60 in the near term.

From the Bear Cave: Not a very impressive performance yesterday for Penney. But bears can still watch to see if shares can rally to $30, a level it was at a mere 5 trading sessions ago. Downside initiation, if and when.

Quick Check Around the World

Asian trading closed with the Hang Seng 3.90%, Nikkei 14.50%, Sensex 1.54%, Taiwan -5.40%, Shanghai -2.72%, ASX 200 3.70%.

Glancing towards Europe, we see the CAC 5.16%, DAX 5.15%, FTSE 5.41%

As of 8:10 a.m. EST, S&P Futures are trading +29 to 1046, and Nasdaq futures are +26 to 1484.

A Look At Commodities

Commodities are higher. Crude oil is +3.27 to 84.45. Gold is +3.80 to 846.3. Silver is +0.135 to 10.925, and copper is +17.15 to 232.80.

The dollar index is -0.996 to 80.877.

On the Radar


02:00 Treasury Budget (Sep)

Click here for the full trading radar.

Good luck today!

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No positions in stocks mentioned.

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