 Good afternoon everyone and welcome to the Stock Swiss Show play of the day. This is JCP This is actually the play of the day two days in a row Not typical but can happen and guess what? JCP is still lower here on this chart The reason this has been a play of the day the last two days in a row is it's set up had exact beautiful entries small stops good risk to reward and The whole nine yards and it's gone to the first target if not the second target every day that it's done what it's supposed to do Dream target is still in play Low odds it gets there today though now because it's quarter of one and there's an FOMC minutes announcement at two o'clock So this is probably just gonna flat line here for the rest of the day So if you this this was this this Play today here was very interesting. Let's go over it Actually, I saw it in the morning I wanted to watch us today for follow-through and I wanted to watch it because I had a high level of conviction I shorted it yesterday had the move a flat line in the morning yesterday where the market was rallying and Just was a beautiful bullish day yesterday while this couldn't get a breath of life It didn't keep breaking, but it was very weak The stock actually got up today now I Shorted this because it's a good short JCP is a short and the only reason it gapped up is basically a neutral gap though It's because of the fact that the market gapped up today. Okay This had an add on the 15 minute chart here at 43, but I actually took it in the five minute at 45 This was a good entry. I Don't know how I saw this. I just saw that 50 was the 850 was resistance here In fact, I saw it in the morning. I saw it very early in the morning that a 50 was resistance I knew if it held a 50 this was a good short So this is what resistance looks like stock tries to go higher can't do it tries to go higher can't do it Try this go higher can't do it broke Did the trade at 845 with a stop over the 808 50 very very very tight Had to stop at 53 and really could have put it at 52, but you know give or take a penny Rallied up again had an ad Try to get over 50 couldn't do it And then it broke and then it broke and then it broke and it broke and it broke and it broke the low the day They broke and it went all the way down and look at this. This is beautiful. Here was the 832 number from yesterday at 33 First target really was a 25 824 822 821 then 812 the low here is 814 Again because of the minutes in an hour or so I think it's gonna flat line the rest of the day But beautiful beautiful beautiful bearish move and nice break Fell out of the sky It's kind of a snail the way it traded in the morning But then it broke hard and had a nice beautiful move and look at the 15 minute chart Look at the red bars one two three four red guys down beautiful move And really if the market didn't have the minutes out I'd say this would get to eight bucks today or break target for this Okay, is here for the first target then seven seventy seven sixty five and beyond what I love about this And I think I didn't talk about it in the video yesterday is that I know I Know for a fact that people bought in this bar here. How do I know because I can see the mind So this stock gapped up gapped up in the 50 period moving average gapped up It was a bullish gap people bought it then it gapped down gapped down the gap down failed people bought it rally rally A dollar it's a big move for JCP in the day a buck. That's almost a dream target It was eight dollars and went eight dollars it gapped up over eight dollars here Then the next day after that people are along this stock. It's a terrible Stock to be long in but people are long it and when these people here start to get going Which the panic really hasn't started taking effect yet Once the panic sets in which would be panic selling Okay Selling of the longs the stock will move down again And it's really going to continue lower because it's going to get shorted Look at this here. I'm even seeing this now. This was resistance here This is a great chart. Do you see this here? This is resistance Stock gapped broke gapped broke ran down rallied up rallied up broke gapped again rallied up again made the resistance Dropped gapped gapped down broke broke broke made a new low down here broke five dollars rally That treasure people try to buy this double bottom here Whatever this is. This is a terrible buy gapped up here people try to buy it gapped up over the gap down I see it people bought it people bought it, but it's a rally into resistance and here you have this stock here rally perfectly into resistance and So it's lower. This is a nice chart beautiful beautiful chart of JCP short and I'm You know holding on to teensy weensy weensy weensy bit of this for the tight stop over 31 here for the afternoon But I'm almost deciding if I should kill it because I don't I'm a prophet in this now here And I don't want to actually hold this through the minutes I don't want to be in anything through the minutes And if it wasn't for the minutes this probably would go to eight dollars today and break when this does get that eight dollars Whatever it is could be today could be tomorrow could be sometime the next week. It's gonna just drop like the dickens I think when it breaks eight, it just collapses So we'll have to see what it does but this is JCP stocks with show play of the day open house in the live Trading room is today tomorrow and Friday if you miss today. It's still Thursday and Friday this week from 8 to 12 p.m Eastern time password is spring You can get the link for the room on my Facebook page Actually, if you're not in the email list you can get it there Or you can email me at Melissa at the stock switch comm if you want the link for the live training room open house this week and The golden gap classes this weekend March 22nd and 23rd Feel free to email me if you want to sign up spots are still available today is Wednesday And if you'd like to sign up for the class this weekend email me and Melissa at the stock switch comm Have a great day everybody try to be flat by 2 the minutes or out this afternoon at 2 o'clock and something's gonna happen Something's gonna happen. I have a great trading day everybody. See you tomorrow