Equity Oracle: 10/23/14


J.C. Penny is trading very close to its 20-year lows and it looks as though the stock is pivoting higher to re-test the 50-day moving average. This is an opportunity for us to get into a long position at a reasonable price. If the stock looks like it is going to close below support then our exit strategy is clear, which is to close the position and get out of the trade.

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