@realmoney
Oct 12, 2020 | 05:20 PM EDT DOUG KASS
Listen Up, Mouse Ears: I'm Calling an Audible on Disney
* I'm selling a portion of my position in the after hours
With Disney ($DIS) trading up $7.10 and over $132/share, I am moving my position from large- to medium-size.
To this observer, this is an outsized move relative to its actions (we will see better definition of the company's actions in early December).
In the past, some of Disney's moves have been feint-hearted -- so it is still unclear whether the company will move more aggressively by
starving broadcasting (networks and cable) and other legacy platforms at the expense of the streaming initiative.
By selling some now, I am making the bet that I will be able to buy back at lower prices -- just as I did in my ($SPY) long rental today. @jimcramer @tomkeene

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Dougie Kass

Dougie Kass Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @DougKass

14 Oct
This morning on @realmoney
Higher Stock Prices Are The Enemy of the Rational Buyer
* It has been a busy week for my portfolios
* In the last three weeks, coincident with at 350 handle rise in the S&P Index, the upside reward relative to the downside risk has materially changed
*This week, as the averages continued to advance, I moved from large sized to small sized in net long exposure
* I did not disturb any of my individual long holdings (except which rose by $7/share to over $132 after announcing a business reorganization) and I have no
current plans to
* What I did was to reestablish and short positions to offset and hedge a good portion of my expanded and lengthy list of individual equity holdings @jimcramer @tomkeene @SquawkCNBC @CNBCFastMoney @carlquintanilla @Sarge986 @LizClaman @RiskReversal
Read 4 tweets
13 Oct
@realmoney

Oct 13, 2020 | 10:15 AM EDT DOUG KASS
Moving to Small Sized Net Long Now
*As we reached my objectives discussed three weeks ago (a gain of 350 S&P handles)
Yesterday I observed that despite the outsized gain in the Nasdaq and S&P, market breadth on the NYSE was
only 3-2 positive.
This was a warning sign to me and one of the conditions that led me to starting a short Index hedge.
This morning market breadth more than 2-1 negative with the Nasdaq flat and the S&P down a handful.
In light of the several factors discussed this morning,
I am moving back down to small in net long exposure (defined as under 20% net long):
* The recent advance has likely borrowed against future fourth quarter stock price gains.
* Again, as in past temporary tops, the performance has been lopsided towards FAANG plus (MSFT) .
Read 6 tweets
13 Oct
Coming up shortly on @realmoney Too Much Month at the End of Money?
* I started Monday in a large net long exposure
* Yesterday was a conundrum that may have provided an opportunity
* In response to the outsized market move, I ended Monday evening in a medium sized net long
exposure
* "Nothing's Gonna Change My Clothes" - staying flexible and opportunistic within the confines of my calculus of "fair market value"
* In the last three weeks's rise of 320 S&P handles, we have likely borrowed from further fourth quarter gains
* "Get Your Tongue Outta
My Mouth Cause I'm Kissing You Good-bye" - should the markets continue to advance from here I will do some more selling



@jimcramer @tomkeene @SquawkCNBC @CNBCFastMoney @RiskReversal @terranovajoe @Sarge986 @LizClaman @GuyAdami @carlquintanilla
Read 4 tweets
13 Oct
Taken from the Comments Section tonite on @realmoney

dougie •
This evening, as I reflected upon today's market action, I have to recognize that the market has fulfilled much of my optimistic and non consensus fourth quarter expectations in a relatively brief period of time
(of about three weeks).
This has served to stretch out the relation of price to "fair market value" - making the market, based on my calculus, statistically overpriced and stretched.
Moreover, the advance was once again concentrated in a handful of large cap tech market leaders
(several of which that I own) - which previously, in early September, marked a temporary market top.
Market breadth on the NYSE was only about 3-2 positive, disappointing relative to the S&P cash advance of sixty handles and the Nasdaq rise of 300 handles.
Today I sold out the
Read 5 tweets
11 Oct
wsj.com/articles/biden…
Peggy Noonan of the WSJ (one of the most widely read conservative columnists) is predicting a Biden landslide: Biden, Pence and the Wish for Normalcy. Excerpt:
"But this is also the week that journalists and politicos in Washington began wondering about
something they never expected to be thinking about this year. They are wondering if Nov. 3 won’t be a win for Joe Biden but a blowout, a landslide in a polarized country that doesn’t produce landslides anymore.
It’s not only the past week’s events, not just the polls and their
consistency, their upward tick from a lead of 6 or 7 to a lead in some polls of double digits; it’s the data about women and voters over 65.
No one will talk about it in public because they’re not idiots. Journalists don’t want to be embarrassed if they’ve got it wrong; Democrats
Read 10 tweets
10 Oct
Reality has begun to intrude into the Pres. contest. Despised by your own military leadership @realdonaldtrump lacks popularity and political skill. Save Fox he, contrasted to the world's strongmen, lacks power over the media (a media that has thrived during his Presidency).
As Ross Douthat writes, " A final pre-election case for understanding the president as a noisy weakling, not a budding autocrat." There is no longer concern about a wild resistance when Trump is defeated. What we are now seeing is a weak,
ranting, infected-by-Covid chief executive - no longer plotting a coup - because a term like “plotting” implies capabilities that @realdonaldtrump conspicuously lacks. @jimcramer @tomkeene @SquawkCNBC @riskreversal @ScottWapnerCNBC @andrewrsorkin @EpsilonTheory
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!