This Day On The Street
Continue to site right-arrow
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

NEW YORK ( TheStreet) -- Doug Kass of Seabreeze Partners is known for his accurate stock market calls and keen insights into the economy, which he shares with RealMoney Pro readers in his daily trading diary.

Among his posts this past week, Kass explained why the market is setting itself up for disappointment, why he ditched his Citigroup position on Thursday and what you should do when the market goes against you.

Please click here for information about subscribing to RealMoney Pro.

Ignorance Is Bliss
Originally published on Friday, March 8 at 2:14 p.m. EST.

  • If hopes of a grand fiscal bargain are being incorporated in stock prices, disappointment lies down the line.

An overbought U.S. stock market, downside risk to GDP forecasts from the stronger dollar, fiscal drag from spending cuts due to sequestration, higher personal tax rates (and their impact on corporate profits), inertia in our leaders addressing the budget deficit, negative productivity (and its impact on corporate profit margins), a recession in Europe, evidence of slowing Chinese economic growth and a host of other factors be damned -- Mr. Market continues to be a on mission to go higher.

Now there is talk of a "grand fiscal bargain" after the president reached out to Republicans during a special dinner earlier in the week. On this score, my Washington contacts are saying "no way Jose" to a grand bargain, as the administration is still committed to no entitlement cuts and more tax increases while the Republicans are committed to entitlement cuts and no more tax increases.

So, if hopes of a grand fiscal bargain are being incorporated in stock prices, there will likely be disappointment down the line.

But for now, as Queen sang, "nothing really matters" (to investors, that is).

After this morning's selloff, the all-too-familiar action of higher lows and higher highs in the market (during afternoon trading) has reappeared.

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

Citigroup's Stingy Buyback
Originally published on Thursday, March 7 at 5:37 p.m. EST.

"One last thing."
-- Lt. Columbo

Citigroup (C - Get Report) requested only a $1.2 billion buyback through first quarter of 2014.

This represents less than 1% of the company's market capitalization.

Moreover, the bank pays only one penny a quarter in dividends, and it didn't request an increase!

The "Fast Money" gang thinks this is positive.

I respectfully disagree.

I am selling the rest of my Citigroup on the strength in after-hours trading.

At the time of publication, Kass was long Citigroup.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

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
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Our Tweets

Partners Compare Online Brokers

Top Rated Stocks Top Rated Funds Top Rated ETFs