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From yesterday @realmoney
Re: A load of Spy puts ...
Jun 03, 2020 | 12:16 PM EDT DOUG KASS
What the Hell Happened to the Delta House I Used to Know?
* Looks like I missed something...
* This could be the greatest night of our lives, but
"Hey, what's this lying around shit?
The war is over man, Wormer dropped the big one
What, over, did you say its over
Nothing is over until we decide it is
Was it over when the Germans bombed Pearl Harbor
Hell no.
And it aint over now.
Cause when the going gets tough
The tough get going.
Who's with me?
Let's go!"
- Bluto, Animal House

Mark Zandi says the Covid-19 recession is over.
It's good news that the worst is over.
But the bad news is that it will take years to recapture last year's GDP (economic) and profit levels.
The markets feel to me -
but I can't determine if it's the gentle push from Mnuchin and The Plunge Protection Team or something more sinister.
Either way I plainly don't believe the markets should be at current levels.
Cash may be considered "king" for the many.
"Where's the guts?
This could be the greatest day of our lives!
Not me, I am not going to take it
Wormer he is a dead man
Nideremeyer dead!"
I think this situation absolutely requires a really stupid and futile jester - and I am just the guy to do it...
I am buying June 12 weekly ($SPY) $308 and $309 puts at about $2.85 and $3.15, respectively.
Let's do it!
Go, go, go... @jimcramer @riskreversal @cnbcfastmoney @SquawkCNBC @carlquintanilla @threadreaderapp unroll
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More from @DougKass see all

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Dougie Kass
@DougKass
@realmoney

It May Be Time For Financials To Consolidate A Bit Now
* The large money center banks are as close to "forever" stocks for me
* However, the recent rise in the sector - and near +10% opening print higher - have been almost vertical and some backing and filling would
not be a surprise
* Indeed, some consolidation would be healthy
My upbeat position on this space has been clear repeatedly - banks represent one of the best areas of value in the market.
Many - fundamentalists as well as technicians - were in strong opposition of this view.
That said, the trajectory of the recent rise has been even better than I expected. Moreover, the gap higher - on the opening (e.g Citigroup and Wells Fargo rose by about +10% on the opening prints) - might herald a short term top.
Read 5 tweets
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Dougie Kass
@DougKass
My 2020 "No Apologies Tour" continues:
Infections are rising in 17 states and constant in 21 states. See NYTimes, “Latest Map and Case Count.” In a worrisome development, many states are seeing a second wave of infections following reopening.
There was a significant development
related to studies of hydroxychloroquine. An important study published by The Lancet was withdrawn on Thursday. It was withdrawn because the authors were unable to overcome confidentiality agreements to allow The Lancet’s peer reviewers to evaluate underlying data after questions
were raised. This development is stunning. The Lancet and the authors of the study should have confirmed before publishing the article that the authors had the right to share the underlying data with peer reviewers. Publications of the study caused WHO to suspend its clinical
Read 8 tweets
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Dougie Kass
@DougKass
My 2020 @realDonaldTrump "No Apologies" Tour:
June 5, 2020
"There was no correlation between our plan of moving the perimeter by one block and the president’s going over to the church.” Bill Barr, defending the attack on protestors in Lafayette Square by federal officers.
“It's certainly something that we need to take a look at [to determine] what, if anything, is appropriate for us to do in the wake of what's going on.” Mitch McConnell, explaining why the Senate will not consider police reform legislation.
“I haven’t seen it.” Senator Ron Johnson declining to comment on the attack on protestors in Lafayette Square.
“I’m late for lunch.” Senator Rob Portman (R-KY) declining to comment on the attack on protestors in Lafayette Square.
“I was only following orders.”
Read 25 tweets

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