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Cramer's Mad Money - The Worst Is Not Over For J.C. Penney (11/15/12)

By SA Editor Miriam Metzinger:

Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Thursday November 15.

J.C. Penney (JCP): The Worst Is Not Over. Other stock mentioned: Apple (AAPL)

Never buy a stock just because it has come down too much. J.C. Penney (JCP) has declined 53% for the year, and many wonder if it can really go lower, but Cramer thinks it can. The company reported its third terrible quarter in a row. While Cramer was initially hopeful when Ron Johnson, architect of the Apple (AAPL) Stores took the helm of JCP, it soon looked like Johnson was not the right man for the job; Cramer told investors to get out of JCP in May, when it was 10 points higher than it is now. Johnson executed a series of bad moves; he alienated those loyal to JCP by getting rid of coupons and special deals for “every

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