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.

 


 

 
From The Street of Dreams
 
Originally published at 9:32 AM EDT on October 23, 2015
 
Citi has removed Apple  ( AAPL) from its U.S. Focus List based on more-difficult comps and limited potential sales-and-earnings upside in the near term.

However, Citi is maintaining its $145 price target on the stock.

I remain short on Apple -- in fact, I recently added to that stake.

Position: Short AAPL

 


 

Shrinking My Regional-Bank Holdings

Originally published at 10:41 AM EDT on October 23, 2015
 

As part of my cleanup process, I plan to eliminate these regional-bank longs on the sector's recent strength:

  • Enterprise Financial Services  (EFSC) , which is +10% this week
  • MB Financial  (MBFI) , which up 5% this week
  • BB&T Corp.  (BBT) , which is +4% so far this week

That said, I'm maintaining my small positions in the other regional banks that I hold. I'm also keeping my reduced stakes in money-center firms Bank of America  (BAC) , Citigroup  (C) and JPMorgan Chase  (JPM) after selling part of those holdings earlier this week.

And I'm not taking any banks off of my Best Ideas list, as I still view the firms I've included there as good multiyear opportunities. I'll also be buying money-center banks again if we see weakness of 5% or so.

Position: Long EFSC (small), MBFI (small), BBT (small), C (small), BAC (small), JPM (small)
 
 


 

From The Street of Dreams (Part Trois)

Originally published at 1:54 PM EDT on October 23, 2015
 
I neglected to mention last week that Bernstein upgraded Potash ( POT) to Outperform from Market Perform, with a $28 price target.

The move was mostly a valuation call based on the notion that there will be continued "price discipline" in the potash market.

A possible short-term catalyst could be the Chinese contract settlement (at around $280+ per ton), which could be announced in the next two months. That could restore market confidence in both POT and the entire group.

I agree with Bernstein, and I'm maintaining my long on POT.

Position: Long POT

At the time of publication, Kass and/or his funds were long POT, EFSC, MBFI, BBT, C, BAC and JPM, and short AAPL, 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.

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