 Good afternoon everyone and welcome to the stockswish.com. This is Melissa just doing an update here in a play That's been going on morning kind of like a snail, but actually it's a good trade. It's a solid trade It's a quality short here. I'm in this JCP and you know once a certain time of the morning goes by and I'm still in a Play I'm pretty much in it till the close and I have some things to do today. So here. I am Let's go back over the morning Let's get back this to the 15 minute Let's go back over the morning of JCP So I've been watching this for a long time made a call in this a while ago that this would break $7 and get to seven dollars. It's going to I don't I don't know if this does it today It's 12 15 ish a realistic target on this today though is 757 30 possibly $7 today, but I do think this breaks seven So you could have shorted this aggressively today out of the gate at 931 I did not do this, but you could have I saw it. I saw it hit and almost as soon as I saw it I quick called it and This is one of these ones where even if you don't get the exact entry here at 93 You can take it here because the stop is still good By the time I saw it it hit 790 Stop was over the high of the day came down in here waited waited waited wanted it to rally back more It didn't then decided to do this here. Here's the second setup 84 and really then I gave this a pretty good cushion all the way up here for the stop But you could have been tight with it here. It's never gone over that Then it fell on down and for some reason just got held up right in here But it's broken this already now this area of 775 next area. It has to break a 770 And again the target 750 so this is a nice easy peasy trade That's had several lads that you could be doing that's working here on the live day On a day when there wasn't a lot of things to look at here Mondays are usually the slowest days of the week So this is a nice trade to be in it's also hit and triggered on every major time frame The 15 the 30 the 60 the 5 the 2 the 1 everything every major time frame is this hit on so it's a nice guy Let's go over the daily chart So a while back here. I don't remember exactly when I did the video I have to look it up. I did call it JCP would not hold this area and would break it It hasn't broken it yet, but it's on his way of doing it It's going to and Friday had a huge day in this he had a huge massive day in this I actually did this Friday too, but I you know didn't hold it all the way down to the dream target You would have had to held it in the afternoon Friday to do that I did do the morning play in this but this did go to the dream target here on Friday Which was 767 50 and if you traded it Friday morning, you could have retaken it in the afternoon today now I'm deciding though to wake this puppy out and see if I can get this going here at this afternoon and So here's the next area So it's a nice call in here because I know it's going to break JCP has been one of these charts that I just knew was lower. It's kind of like Many of the other stocks have been calling and seeing these things going I mean JCP could go to $3.50 that that sounds crazy because of the price point It's at right now. It's it's 773 sounds crazy The stock could actually lose 50% of its value here even in the year with the price that it's up But it could this is what happens to stocks that are weak This is why you play weakness and you buy strength the short weakness and you buy strength And I'm really good at seeing both weakness and strength although I prefer to trade to the downside to the do the shorts So the ad on this Then if you wanted to do the ad you could have aggressively out in the five been in here You could have waited for it to trigger on the 60 Right in here 775 stop over 785 786 you could put it This is a nice trade and this is actually 10 cents entry here even if this goes only to 750 It's two and a half hours here in a late play and it's three plus on the original entry because the stop now can You know very well be over this area here at 783. Let's look at the 60 minute Look at this. This is a beautiful chart a really nice chart So early yet in the day for this to fall. I have a feeling this falls into the clothes It's not doing anything wrong. It's perfectly fine. I'm watching it go on down. We'll see where it goes I think this falls into four clock I think it starts to get mustering up some of the energy in itself the momentum between two to 15 ish And falls into the clothes This is definitely lower seven dollars is the target This is a nice core short of swing trade to be in next target six dollars and five 20 and five dollars and four 90 and all the way down and I I just have a feeling that jc penny is going to get into the three It's sometime in the next year. It's just one of these stocks that for some reason It you know, it's getting sold off heavily And so again, I like to trade based on institutional buying or selling jc penny couldn't be a better example of this Institutions did not buy this gap back here when this gapped up here. Oh, look at this breaking go. Come on under 70 70 70 Hold on. I have to pay attention No, I did not get under 70. Yeah, but this is going to you right now Uh, what was I saying? Institutions did not buy this gap here this gapped up. It's a gap up It's a gap up over resistance it gapped up It's a gap up in the 50 per moving average it gapped up It gapped up and then it gapped down here and failed and had a big green bars as a dollar and then gapped up again and held and held and held and held the 20 and held up here And actually held in the 50 on friday, but was assured So, you know institutions, however, did not Make this go up in those gaps The institutions are selling out of this or basically this is being shorted now too So it's a nice pressurized gap where you're following the institutions that are making the gap and continuing it down to their downside If this had had something where it would have looked like institutions were buying jcp Then I wouldn't be in it short now, but the chart is a beautiful short It's been a nice short and I had a great eye to see that this would break in here I put this on a video if anybody watched it from you know a month ago That this would eventually do it. I can see these things so well Because I'm very good at reading price and very good at reading institutions of what they're doing in positions and stocks So feel free to get in this if you want to yet today 86 would have to be the stop If you think this is something that you would want to do Um, there's nothing wrong with this here yet this afternoon even the stop and this is still nice and squishy This could break 750 today next target is 7 32 7 28 And then and then seven and four and seven bucks. This is melissa with the stocks wish dot com I have a great day everybody. We'll see how jcp ends up today. Nice relaxing beautiful day Uh, really nice day here in new york just in my jcp doing some paperwork up money in this already and there's not doing anything wrong So have a wonderful day everybody. The next gap course is april 26 and 27 If you'd like more information feel free to email me at melissa at the stocks wish dot com Beautiful short in jcp. Follow it on down. Have a great day everybody