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 Report, General Motors (GM) - Get Report, Bank of America (BAC) - Get ReportCitigroup (C) - Get Report, JPMorgan Chase (JPM) - Get Report and Twitter (TWTR) - Get Report this morning.

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

I also have sold some Oaktree Capital Group (OAK) - Get 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

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.

Position: Long WFC, FITB, FMER, RF, C, MSL, SONA, EFSC, STL, MBFI, JPM, BBT

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 Report/Short Facebook (FB) - Get 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

Must Read: Build a Billionaire Portfolio With These 20 Stocks

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.