J.C. Penney Company, Inc. (NYSE:JCP) is getting smoked today. The stock is trading at $14.21, -1.66 (-10.46%) after hitting a new 52 week low at $13.90 earlier. This massive decline is coming on the back of the company getting rid of CEO Ron Johnson. While this was initially cheered, the replacement caused fresh horror. The new CEO of J.C. Penney is Myron Ullman. He was the CEO prior to Ron Johnson.  ....

As we touched on before, NYSE traded warrants or any warrant for that matter, is basically a right to own a certain security at a defined price within a specified time frame. In practical terms many warrants trade like LEAP options.

Suffice to say that if New York's headline index cannot at least pull back above the crucial 12,000-point zone in the next 48 hours, then I foresee 11,700 (the level of the 200-day moving average) as the next immediate target for the Dow.

If that is also broken, you can bet 11,500 will be right behind it.

IGVSI Eclipses 2007 All Time High --- above 2007 levels since mid-February 2011 --- now up 6.9%; ahead of DOW and S & P by roughly 19%. Market Cycle Investment Management Model Portfolios build upon 18% gain in 2010. S & P 500 and mighty DOW lag the IGVSI, need average of 14% more just to equal 2007 levels.