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Top trader: Buy JC Penney as Macy's falters

A J.C. Penney store in Brooklyn, New York.
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CNBC "Halftime Report " trader Jim Lebenthal believes weakness in retail stocks this week is a chance to buy J.C. Penney, a great turnaround story, for cheap.

The CEO of Lebenthal Asset Management is up more than 6 percent this year in his CNBC Pro trading contest model portfolio.

Here's what Lebenthal sees and why he thinks the stock can rally further...