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Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings.

Baby Steps

Originally published Feb. 3 at 2:05 p.m. EDT

I have moved from small-sized to slightly more than small-sized in my financial shorts. I have added Bank of America (BAC) - Get Bank of America Corp Report $23.31, Citigroup (C) - Get Citigroup Inc. Report $57.78, JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. Report $87 and Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report $240.50.

I initiated a Morgan Stanley (MS) - Get Morgan Stanley Report short (small) $44.50.

Nothing in the executive order (on financials) Friday should be surprising to the markets, imho.

Speaking of financials, the president's executive order spurs interest in collateral companies like mortgage insurance.

Radian ( (RTN) - Get Raytheon Company Report ) trades over $19 a share today, a gain of over 90% since joining my Best Ideas List in July 2016.

Position: Long: RDN; short: BAC small, C small, JPM small, GS small, MS smal.

Some Brief Observations on the Day

Originally published Feb. 1 at 3:26 p.m. EDT

Some brief observations on the day:

  • Apple (AAPL) - Get Apple Inc. Report stole the show. Without AAPL, the market would have had a much different character. (Read: More negative).
  • Wednesday had something for everyone. For the bears, there was a clear reversal (becoming a bit more common place recently). Ludacris!

TheStreet Recommends

  • I like the recovery in gold (now $1.40 on the day, after being much lower) with SPDR Gold Trust ETF (GLD) - Get SPDR Gold Shares Report back over resistance ($115). I now am large in this asset class.
  • Ag commodities were broadly higher (corn, oats, soybeans and wheat).
  • Lumber up $10.
  • Retail is god awful, again.
  • I sold out profitably again in my inverse leveraged ETFs. But I feel naked.
  • The Fed futures market is suggesting only two hikes in 2017. Many are coming to the view that the Fed is getting behind the curve (see Boockvar). Is the Fed concerned that they will be admonished by the Supreme Tweeter?

Positions --
Long: GLD large, RDN, AGN, CPB large, JCP small

Short: IYR, C small, BAC small, JPM small, GS, AAPL small

Position: See above.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long AAPL, AGN and C.