Yazzum. JCP "rapidly" approaching the price target I posted in my initial spew. You wouldn't have gotten that info from the RSI studies...and also, RSI studies are not perfect for Ty Ming your trades. Look at how UVXY rallied before putting in a lower low than the RSI 80 reading at the 52 week low of 28.20 for instance.
The windup is that UVXY is coming aaall the way back to set a new 52 week low...which of course means the markets in general are going to attack the multi-year highs.
8/17/17 end of day update: I didn't even watch the open but I see that JCP did open lower. Let's see what those 3.50 calls priced at today since it was the first day you could trade them after my "spec" short term buy on JCP to 4.50...ish. 9/1 expiry 3.50 calls only had one trading price today of .24 on 42 total contracts traded. I'll log that in...it could go either way but it's basically a $150 bet...and that's all you can lose...so I like the odds on this one. I'm waiting for a gold trade here now after today's festivities. DUST shares might double off the next low. Here's JCP though.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=jcp&x=43&y=17&time=18&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11