A trade in J.C. Penney

There are key turning points along the way as a company experiences management/investor disruptions. These points in time can lead to a good opportunity in trading the underlying stock (or bonds, debt, etc). There was news yesterday of Ackman (Pershing Square) selling (or already sold) his entire stake in $JCP. I wanted to go long again (no position for a while) and decided on this path:


Today I made this add & subsequent adjustment:



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