Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings.
TBT Is Going, Going, Gone, but My TLT Short Is Not
Originally published March 31 at 10:22 a.m. EST
I am now out of my
ProShares UltraShort Lehman 20+ Year Treasury Bond ETF
"trade of the week" for a profit. (Remember, leveraged ETFs are short-term rentals and not long-term leases as they experience decay and may track poorly to underlying.)
TLT was placed on my Best Ideas List in June 2016 at $139.55 based on my expectation that we were at a Generational Bottom in Bond Yields.
TLT is now trading at $120.40.
Position: Short TLT .
I am not going to publish "Takeaways" today as I still cant see clearly from my afternoon eye exam.
A Blurry View
Originally published March 29 at 4:28 p.m. EST
Retail, with a pushback on the border adjustment tax (BAT), thrived--led by J.C. Penney (JCP) - Get Report , Target (TGT) - Get Report , Foot Locker (FL) - Get Report , Nordstrom (JWN) - Get Report and Kohl's (KSS) - Get Report .
(T)FANG remarkably strong--some of which was chronicled by Jim "El Capitan" Cramer.
Financials had little going for them.
A lot of hawkish talk from Fed members was ignored today.
Bonds reversed yesterday's weakness and closed at day's highs.
Stocks closed near their highs in a non-volatile trading session
Enjoy your evening and thanks for reading my Diary today.
Position: None .
Action Alerts PLUS, which Cramer manages as a charitable trust, is long KSS.