J. C. Penney Company, Inc. (JCP)

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NYSE
Prev Close 0.00
Day Low/High 0.00 / 0.00
52 Wk Low/High 0.02 / 0.80
Exchange NYSE
Shares Outstanding 322.38B
Div & Yield N.A. (N.A)

Fashioning an Investment Strategy From Retail's Wreckage

For apparel-centric (department store) retailers, the news releases issued after Wednesday's close by Macy's and Kohl's suggest a disappointing holiday season, with comps falling 1% to 2% below plan. The retail apparel group in general and M and KSS...

My Takeaways and Observations

I love gold.    Trade of the Week -- short Apple at $116.15. (The SoftBank investment is a non-event).   Dwyerama is chillin' and I am re-establishing my ProShares UltraShort S&P500 ETF  long -- back in a revolutionary mindset.    As January goes......

Reviewing My Investment Troops

Some morning observations: The Mighty Oak -- Oaktree Capital Group -- is regaining some leaves as it is up $1.20 for the second up day in a row. I surmised that tax selling held the shares back in December; perhaps I was on the right track! Radian G...

My Takeaways and Observations (3:30 p.m. Edition)

The markets started the day like Usain Bolt at the start of a 100-meter race. But, unlike Bolt, the finish wasn't as strong as the start.   I thought one of the day's features was the reversal in bond yields, particularly after the good data.    The...

Retail Apparel Stocks' Weakness Deepens

Retail stocks (e.g., J.C. Penney  ) are being kicked in the groin this morning. The first real retail data comes out on Thursday from L Brands  , GAP  and Ascena Retail . I expect industry comps from real stores at 0-2%. Industry at 4%. Online at 20...

Don't Bet on Wealth Killers (Like Sears)

Don't Bet on Wealth Killers (Like Sears)

This beleaguered department store chain has a negative book value and huge debts.

My Takeaways and Observations

"Who you tryin' to get crazy with, 'ese? Don't you know I'm loco?..." -- Cypress Hill, Insane in the Brain 2017 will be the year of "The Dude."    My favorite large-cap long Allergan  and short Caterpillar   for next year.  AGN closed up by $4(!) wh...

Rebalancing & Selling JCP Into Weakness

The iShares Barclays 20+ Yr Treas.Bond ETF  is making a nice move -- now nearly up $1 from yesterday's purchase.LONG TLT Into the recent weakness I have sold (naked) JC Penney  $9 and $8.50 January (monthly) puts.

The Good, The Bad and The Ugly in Today's Trading (Early Afternoon Edition)

"You see, in this world there's two kinds of people, my friend: Those with loaded guns and those who dig. You dig." - Blondie, "The Good, the Bad and the Ugly" Here's a quick review of today's market action: The Good Mr. Market continues to follow t...

My Takeaways and Observations (3 p.m. Edition)

Is it Friday, yet? My annual tribute to "El Capitan."    Tech drek?!!!???!    Hope? Nope! (1) Part 1 (2) Part II (3) Part III   Palm Beach Chronicles (Issue #2 Supplement)    You know what I am shorting; here is what I am buying.    Stocks meandered...

What Am I Bidding for?

I am bidding $60 for more Campbell Soup  , $48 for more Hartford Financial  , $36.20 for more , $50.70 for more Kohl's  and $8.65 for more JC Penney  .

Bed Bath & Beyond Needs Fresh Thinking; Time for an Activist Raid

Bed Bath & Beyond Needs Fresh Thinking; Time for an Activist Raid

There is a dearth of retail experience on its board during a period of major industry disruption.

The Long (JCP) and Short (AAPL) of It

I added to my JC Penney long at $8.78 and I added to my Apple short, the latter move as a hedge against Chinese recrimination following the Peter Navarro appointment as head of the White House's National Trade Council.

My Takeaways and Observations

"Be true to your teeth so they won't be false to you." -- Soupy Sales Have we entered a post-fact investment world?    I moved to large ProShares UltraShort S&P500 ETF   position as my freak flags show again. Viva La Revolucion!    Good stuff from t...

Retail Catches a Bid

Apropos my opening missive today, retail has caught a bid. JC Penney   is up 5% and (buys of) Kohl's  and Macy's  well off their openings and lows.

The Retail Stocks Dilemma: Attention Value Investors

One would think that with the labor market tightening, wages rising and the prospects for a lower effective individual tax rate in a Trump administration, retail stocks would be leading the markets, not lagging the markets.  This has not been the ca...

My Takeaways and Observations (2:45 p.m. EST edition)

"First gear, it's all right (Honda, Honda, go faster, faster) Second gear, I'll lean right (Honda, Honda, go faster, faster) Third gear, hang on tight (Honda, Honda, go faster, faster) Faster, it's all right." -- Beach Boys, "Little Honda"  With a b...

The Long and Short in Retail

I have covered my Market Vectors Retail ETF short. I'll have more on the outlook for retail in tomorrow's opening missive. My lone long in the space is JC Penney , which I have been adding to more aggressively in the last few days.

TJ Maxx Dominated This Holiday Season

TJ Maxx Dominated This Holiday Season

Expect a monster quarter when it posts results in February.

My Takeaways and Observations

Slow day, at meetings all morning.   Despite the strength in our currency (and its adverse implications on multi-national profitability), there was no follow-through to yesterday's schmeissing.   I reflected on my July call that we have hit a Genera...

Today's Trades

Longs: I added to JC Penney  at $9.36. Shorts: I added to Lincoln National  , Metlife  and International Business Machines  shorts.

My Takeaways and Observations

"Everyone here likes the bounce." -- President-elect Donald Trump (said in a meeting today at Trump Tower with tech executives) A good day for the ursine crowd but not so good for the bullish cabal as they had a bad day -- for a change. (Yes, I am w...

The Book of Boockvar

This week I cautioned about my channel checks and my discussions with retail consultants suggesting that the retail outlook is weakening (I shorted VanEck Vectors Retail ETF against my large JC Penney long).  This morning, weak retail sales are the ...

Pennies from Heaven (Part Trois)

I live as a buyer in JC Penney  at $9 to $9.50.   I will be patient.

I Like to Watch

"I like to watch, Eve." -- Chauncey Gardiner, Being There Beyond longs, DuPont  and Radian   , a couple of other investment longs (Hartford Financial  and Campbell Soup  ) are conspicuously higher in a weak tape ... not so much for JC Penney  , in a...

Moving To Market Neutral in Retail, Net Short Consumer Discretionary

Vaneck Vectors Retail ETF  has made a move from about $73 to $79.50 since the early November election.   In keeping with the prior post I am short RTH (scaling in on any strength) against my long JC Penney  .   That said, looking at retail and consu...

Retail Smackdown

Over the weekend I spoke to several informed retail industry consultants.   The message was that retail activity is subdued and sales have been heavily discounted (for obvious reasons).   I don't expect much upside and some downside to consensus exp...

My Takeaways and Observations

Was yesterday "FOMO" or something else?    I waited and then moved on the volatility trade.    "How many syllables Mario?" (A Putney Swope reference!)    Wall Street is now a fear-free zone.    Mark Hanson on negative homeowners' equity.    Shorted ...

FOMO ... or Something Else?

"What if everything is an illusion and nothing exists? In that case, I definitely overpaid for my carpet." --Woody Alllen The magnitude of the market advance yesterday surprised me and many others. After a one-week sideway consolidation from an over...

Risk Control 'Trumps' Conviction

I have covered today's bank shorts -- for a small loss.   I have had an excellent 2016 and since I can't explain today's gain .... With today's buys -- Campbell Soup  , JC Penney  , Hartford Financial   ... And today's sales -- ProShares UltraShort ...