Buy AMZN on Weakness, Sell JCP on Strength

NEW YORK (TheStreet) -- J. C. Penney(JCP) CEO Ron Johnson comes off as a likeable guy. All it takes is a quick glance at the presentation he gave investors in January to figure that out.

Near the beginning of his speech, Johnson tells the story of going to Steve Jobs's house to inform him he would be leaving Apple(AAPL) to take a new gig. When Johnson told him he was headed to J. C. Penney, Jobs asked him -- paraphrasing here -- if he was crazy.

Johnson made a connection between Target(TGT) , Apple and J. C. Penney. Follow this logic: According to Johnson, when he left Target for Apple, people thought he was nuts because Target was doing great and Apple not so much. And now, yet again, he chose to leave a company at the top of its game for one facing considerable headwinds.