Bulls and Bears Battle in J. C. Penney (JCP)

J. C. Penney Company, Inc. (NYSE: JCP) stock gained ground on Wednesday after investor Warren Buffett said he wasn't worried about the company surviving. After climbing early, volatility picked up as bulls and bears continued to battle.

The stock had approximately 30% short interest at last check, so there is certainly near-term squeeze potential. However, medium-term momentum clearly favors shorts.

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