This play was from yesterday where I found JCP as a nice Tier II type mortgage play. I soon found an entry as price triggered the first buy setup on the 1 minute chart near 9:35 am reversal time where I entered with a full share size @ .97. Price continued sideways until the 20 ma caught up pushing prices higher. I reached my first target near 10 am and sold 1/3rd of my shares. I was looking for a much higher last target of .56 cents found on the daily chart back in December, but this was not going to be the case as I soon tailed out of the play near 10:30 am as I sold my last remaining shares @ .17 as price started to break down. A solid 2 “Risk” units of profit made on the play. Here is the chart for my play in JCP…
JCP 03112014