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

Increasing SPY, SBUX Shorts, AGN Long

Originally published Jan. 27 at 2:34 p.m. EDT

I have materially increased my SPDR S&P 500 ETF Trust ( (SPY) - Get SPDR S&P 500 ETF Trust Report ) short in this trading session.

I have also added to my growing Allergan ( (AGN) - Get Allergan plc Report ) long Friday morning and to my Starbucks ( (SBUX) - Get Starbucks Corporation Report ) short Friday afternoon.

And it's a good day for my Ford ( (F) - Get Ford Motor Company Report ) / General Motors ( (GM) - Get General Motors Company (GM) Report ) pairs trade.

Note: Ford was raised to Outperform by RBC Capital this morning (with a $14 price target).

Position: Long AGN, F; short SPY, SBUX, GM.

My Takeaways and Observations

Originally published Jan. 26 at 4:08 p.m. EDT

"The Dow hit 20,000 and I am proud of it ... Now we have to go up, up, up. It's gone up a lot since I won. We hit a number that has never been hit before. So, I am very honored."
--President Donald Trump, ABC interview Wednesday night

If the market craters, will the President take responsibility? Raise your hand if you think he will... I thought so--no hands.

Another win for the bulls as Mr. Market traded well in light of the magnitude of the recent advance.

At 3:45 p.m. near the day's low--but not much movement.

I am getting this out early because there is a lot of EPS announcements to digest after the close.

TheStreet Recommends

I re-established my long in ProShares Trust UltraPro Short QQQ ETF (SQQQ) - Get ProShares UltraPro Short QQQ Report and added to it.

Dow 20,000: So What?

I remain a Midnight Rider.

Housing hits a speed bump--and Hanson called it.

My plans for the yellow metal.

Sears on the brink.

Auction action.

Radian ( RDN) EPS in line, more in the next or two.

Here are some value-added contributions on our site today:

1. Jim "El Capitan" Cramer on how far we have come.

2. Ed Ponsi "scheme" invokes Madonna!
3. Dan Dicker does Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. (GS) Report . (I respectfully disagree with his conclusion on Dodd-Frank)
4. Mike Norman pounds it.
5. Tim "not Judy or Phil" Collins on missing out and fear.

Positions --
Long: HIG large, CPB large, RDN, SQQQ small, SDS

Short: SPY, QQQ, IWM small, CAT, MET, GS small, C small

Position: See above.

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