I’ve got surprisingly little to say tonight, but i wanted to at least sign off with one market-related thought. Even though JC Penney is lingering around its multi-decade supporting trendline, it seems to me the trendline is badly broken. Subjectively speaking, it seems to me that JC Penney’s future is pretty grim. Even when I was a kid, eons ago, JC Penney was hopelessly out of style (to say the least), and in 2013, I think it is going to suffer to same fate as Montgomery Ward: relevant in a bygone era, but basically doomed on multiple fronts. I tried to short it today, but I couldn’t even find a single share.
