This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Best of Kass

Time will tell.

I believe memories are short, and I remain short the market.

At the time of publication, Kass had no positions in securities mentioned.

AmEx Shares Continue Their Slump
Originally published on Thursday, Sept. 13 at 12:02 p.m. EDT.
  • I remain short.
  • Of all the financials I monitor, American Express's (AXP - Get Report) shares have been among the worst performing.

    I remain short based on my expectations that billings will disappoint in the current quarter and in the second half, as the European and Chinese economies and faltering high-end spending weigh on the company.

    At the time of publication, Kass was short AXP.

    The Winter of Love
    Originally published on Wednesday, Sept. 12 at 4:25 p.m. EDT.
  • Could the tide be turning for TLT shorts?
  • The iShares Barclays 20+ Year Treasury Bond Fund (TLT) shorts did not experience a summer of love, but is winter is shaping up to be a different story? This has been a tough nut to crack lately on both sides of the playing field. The bulls finally yielded today in the fight between the bearish head-and-shoulders pattern vs. the bullish cup-and-handle pattern. Kind of like TLT's own version of Thunderdome. Two patterns enter, one pattern leaves.

    The drop today pushes TLT below the handle portion of the cup-and-handle pattern, which was the bulls' strongest technical argument. I was long a few useless call spreads from last go around, which has been stopped out, but the $127 straddles have now begun to work.

    Remember last time, I was looking for the bounce off the horizontal blue line for a short entry, and that was a point of short coverage. This time, we are testing from a much lower level, a failed bullish technical pattern, a stochastics that is not yet oversold and a stronger setup for the bearish head and shoulders. Basically, I don't think the bulls bounce on the blue line this time around. This is the line in the sand for me on TLT. A break there puts $114 into play by the first quarter of 2013, if not the end of the year.

    If you are short, then the horizontal green line, which was previous support, becomes your alert level. I would set stops just above this level or an alert at that price.

    At the time of publication, Kass was long TLT straddles.

    Doug Kass is the president of Seabreeze Partners Management Inc. Under no circumstances does this information represent a recommendation to buy, sell or hold any security.
    2 of 2

    Check Out Our Best Services for Investors

    Action Alerts PLUS

    Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

    Product Features:
    • $2.5+ million portfolio
    • Large-cap and dividend focus
    • Intraday trade alerts from Cramer
    Quant Ratings

    Access the tool that DOMINATES the Russell 2000 and the S&P 500.

    Product Features:
    • Buy, hold, or sell recommendations for over 4,300 stocks
    • Unlimited research reports on your favorite stocks
    • A custom stock screener
    Stocks Under $10

    David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

    Product Features:
    • Model portfolio
    • Stocks trading below $10
    • Intraday trade alerts
    14-Days Free
    Only $9.95
    14-Days Free
    Dividend Stock Advisor

    David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

    Product Features:
    • Diversified model portfolio of dividend stocks
    • Updates with exact steps to take - BUY, HOLD, SELL
    Trifecta Stocks

    Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

    Product Features:
    • Model Portfolio
    • Intra Day Trade alerts
    • Access to Quant Ratings
    Real Money

    More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

    Product Features:
    • Access to Jim Cramer's daily blog
    • Intraday commentary and news
    • Real-time trading forums
    Only $49.95
    14-Days Free
    14-Days Free
    TLT $129.43 1.26%
    AXP $64.85 -1.26%
    AAPL $95.18 1.64%
    FB $117.43 -0.96%
    GOOG $692.36 -0.84%


    Chart of I:DJI
    DOW 17,750.91 -140.25 -0.78%
    S&P 500 2,063.37 -18.06 -0.87%
    NASDAQ 4,763.2240 -54.37 -1.13%

    Free Reports

    Top Rated Stocks Top Rated Funds Top Rated ETFs