WTF !!! Are you outta your mind?? Breaking News people, WSF has officially gone crazy.
You can curse me all you want, but hear me out before you unleash your fury.
JCP is the most hated stock on Wall Street right now. Everyone is either dumping or shorting the stock with both hands. The entire Financial Blogosphere has gone berserk on JCP, with some claiming that the company might go bankrupt by the end of 2013. Though most of them solely argue on the basis of CDS Spreads and Cash Reserves, their arguments cannot be completely discarded. There is a different dynamic at play here.
JCP with all its fuckery, is still worth $15+, as per my calculations. What happened to JCP this week, was a strong mass psychologically motivated muppet smackdown. And given JCP’s recent offering .via. Goldman “Fucking” Sachs, the stock has certainly been diluted as fuck. With that said, I’m looking for a bounce on JCP next week. And if and when, somehow JCP can break $10, I think a break of $15 is a legitimate possibility.
I am taking a contrarian approach on JCP right now. Despite all the negativity out there, I believe JCP does not deserve to be trading at Below $10.
Note: I don’t shoot blanks. I’ve done my homework on JCP and its CDS Spreads + Capital Structure. This is not a technical trade, hence no charts here. This is a contrarian trade.
Recommendation: BUY at the present level or Above $10
Price Target: $15+
Wall Street Fool
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