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Kass: That Was the Week That Was

Stocks in this article: TBTAAPLGMCROCNCIM

This column originally appeared on Real Money Pro at 12:54 p.m. EDT on March 22.

NEW YORK ( Real Money) -- I have started a new end-of-week column that borrows from the title of a popular 1960s BBC comedy show hosted by David Frost for my look back at the week's daily diary highlights.

On Monday, I started the week with " The Cyprus Blight Could Spread" in which I suggested that the sovereign debt and economic crisis remains very much with us and the Cyprus chill ("Insane in the Membrane") was yet another example. In " Bad Omens," I recapped my comments in Alan Abelson's column in Barron's that Alan Greenspan's and Mila Kunis's bullish market view coupled with some technical concerns suggest a short-term market correction is possible. I took a trading long rental, again, in ProShares UltraShort 20+ Year Treasury (TBT)and then took a $1-a-share trading profit. I cautioned that the U.S. housing market's recovery might be uneven in the months ahead. I pared back my Apple (AAPL) long rental after a big run and highlighted what my short book of individual stocks looked like. Late in the day I observed the variant performance between the Chinese and U.S. stock markets. Finally, in " What Happens Next?," I wrote that the only thing I was certain about was uncertainty.

On Tuesday, I spent most of the day keeping up with the crisis du jour in Cyprus. I went back on Apple watch as I continued to trim the long rental. In " The Easy Money Has Been Made in Housing," I outlined the risks to the residential real estate markets in 2013 and I put the current recovery into perspective. In " A Growing Disconnect," I observed that the relationship between bond yields and the S&P 500 had grown wide and likely signaled that some mean reversion was possible. In " Another Sign of Euro Stress," I looked at two spreads to which we should pay attention. There was takeover chatter on Northwest Bancshares (NWBI), my favorite small-cap regional bank stock, in Barron's. I closed profitable shorts in Caterpillar (CAT) and Goldman Sachs (GS). Southwest Securities' Mark Grant chimed in on the Cyprus chill.

Wednesday brought a discussion of why I feel the Fed should raise interest rates. There were more insider sales at Green Mountain Coffee Roasters (GMCR), which is one reason why I bought puts rather than shorting the name. I explained my favorite pairs trade -- namely, long Ocwen (OCN)/short Nationstar (NSM). In " On the Wings of Dove," I discussed my Fed expectations, and in " Color the FOMC a Nonevent," I wrote up what the central bank said and how I interpret it. In " Guess Who? Guess What?," I highlighted the day of profits (misses). I was undun!

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