J.C. Penney (JCP +4.1%) is on watch for volatility with the Value Investing Congress kicking off...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

J.C. Penney (JCP +4.1%) is on watch for volatility with the Value Investing Congress kicking off in New York City today and Bill Ackman set for a CNBC appearance tomorrow morning. Traders are attributing today's gain to some nervous shorts heading to the sidelines in front of what could be a wild ride if the retailer gets teed up by hedge fund managers or is vigorously defended by Ackman.