NEW YORK (Real Money Pro) -- Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings.

Today's Trades

Originally published at 10:19 AM EDT on August 21, 2015

"In the hole" I have added to Ford (F) - Get Ford Motor Company Report, General Motors (GM) - Get General Motors Company (GM) Report, Bank of America (BAC) - Get Bank of America Corp ReportCitigroup (C) - Get Citigroup Inc. Report, JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. (JPM) Report and Twitter (TWTR) - Get Twitter, Inc. Report this morning.

As previously noted, I have covered my Facebook (FB) - Get Facebook, Inc. Class A Report short.

I also have sold some Oaktree Capital Group (OAK) - Get Oaktree Capital Group, LLC Class A Report on strength, though the stock remains on my Best Ideas List.

My addition to Citigroup replaces Oaktree as one of my largest longs.

I see more relative value in C over OAK now.

Position: Long F, GM, C, JPM, BAC, TWTR, TBF, OAK (small)

Dipping the Toe Into Long Waters

Originally published at 9:47 AM EDT on Aug. 21, 2015

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The conventional view is that after this week's schmeissing the market can't rally from here on a Friday, as who wants to be long over the weekend?

I would say, by contrast, if there is a growing likelihood of a Chinese "shock and awe" over the weekend and in light of the magnitude of the drop, who wants to be short over the weekend?

I am judiciously adding to banks and selected longs this morning.


So Long, Facebook Short

Originally published at 9:32 AM EDT on August 21, 2015

I have taken off the short leg of my Long Twitter (TWTR) - Get Twitter, Inc. Report/Short Facebook (FB) - Get Facebook, Inc. Class A Reportpair trade in premarket trading at about $88.

I made about $7 a share on the short but have a loss on the Twitter leg, which I am holding and adding to.

Position: Long TWTR

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At the time of publication, Kass and/or his funds were long WFC, FITB, FMER, RF, C, MSL, SONA, EFSC, STL, MBFI, JPM, BBT, F, GM, JPM, BAC, TWTR, TBF and OAK although holdings can change at any time.

Doug Kass is the president of Seabreeze Partners Management Inc. Under no circumstances does this information represent a recommendation to buy, sell or hold any security.