Top trader Lebenthal buys JC Penney after 30% dip

Jim Lebenthal
Scott Mlyn | CNBC
Jim Lebenthal

CNBC "Halftime Report" trader Jim Lebenthal, who scored a big win betting on a comeback in J.C. Penney shares earlier in the year, stepped into the name again Monday after fresh worries of slowing apparel sales growth cut the stock by a third from its highs.

The CEO of Lebenthal Asset Management is up 8 percent this year in his CNBC Pro trading contest model portfolio.

In another move, Jon Najarian bought Juniper Networks for his model portfolio.

Here's what Lebenthal sees and why he thinks the stock can rally from here again.

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