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

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Strengthen your portfolio in good times and bad.

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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

Economics

02:00 Treasury Budget (Sep)

Click here for the full trading radar.

Good luck today!

No positions in stocks mentioned.

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