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What a week for the market. 

Despite being within 1% of the all-time high in the S&P Index, this week's feature was a number of investment potholes --relatively large-sized individual fundamental disappointments followed by marked stock price drops.

Celgene (CELG) - Get Celgene Corporation Report , Bristol-Myers (BMY) - Get Bristol-Myers Squibb Company Report , Charter Communications (CHTR) - Get Charter Communications, Inc. Class A Report , Universal Health Services (UHS) - Get Universal Health Services, Inc. Class B Report , McKesson (MCK) - Get McKesson Corporation Report , Amerisource Bergen (ABC) - Get AmerisourceBergen Corporation Report , Liberty Interactive (LVNTA) , American Airlines (AAL) - Get American Airlines Group, Inc. Report , Walgreens Boots Alliance (WBA) - Get Walgreens Boots Alliance Inc Report , Hershey (HSY) - Get Hershey Company Report are examples of those potholes.

The market is no longer homogenous -- and opportunities to deliver good investment returns on both the long and short sides have developed.

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Originally published Oct. 26 at 4:09 p.m. EDT. Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. 

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