Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings.
The Good, the Bad and the Ugly
Originally published May 10 at 2:41 p.m. EST
"There are two kinds of spurs, my friend. Those that come in by the door; those that come in by the window." --Tuco, " The Good, the Bad and the Ugly"
* The price of crude oil rose by +$1.81. Energy Select Sector SPDR (ETF)(XLE) - Get Report , my newest Best Ideas Long, is up a beaner.
* Nvidia(NVDA) - Get Report , Coty(COTY) - Get Report , Electronic Arts(EA) - Get Report and Cabot Oil and Gas(COG) - Get Report .
* Kimberly Clark(KMB) - Get Report , the object of vague takeover rumors, continues to advance.
* The market held up well in the face of the Comey firing.
* Junk bonds were well bid despite weakness in the Treasury markets (see below).
* Bonds continue to sell off with yields near the highs of the past few months.
* Ford(F) - Get Report , new low and breaking down on the chart--as it continues to move from the top left to the bottom right.
Position: Long AGN large XLE Short DIS .
A Short Discourse on Why I'm Short Disney
Originally published May 10 at 9:32 a.m. EST
I will have more later on this investment short, which is predicated on my view that the secular growth rate in earnings per share is likely under 10% compared to its high teens historic growth rate and the consensus of about 13% to 14% EPS growth.
DIS was placed on my Best Ideas List in November 2015 at $116.25 a share; it was a very successful contrary short of a most popular equity.
As the share price dropped to $85 in the first half of 2016 I covered almost all of my stock. The stock then languished most of the year before beginning a spirited rise in October to current levels.
I now believe the shares have a much more interesting reward vs. risk on the short side.
Position: Short DIS.
Action Alerts PLUS, which Cramer manages as a charitable trust, is long AGN.