Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings.
All Out of Allstate
I've eliminated my long of Allstate (ALL) .
The stock has risen to $65 from its recent low of around $56, so the risk-vs.-reward quotient no longer looks attractive.
Shorting Exxon and Schlumberger Again
I shorted both of stocks previously, but covered those positions on Jan. 26. I closed out my XOM position at $75.14 and my SLB short at $64.07, having made in excess of $10 a share on each. I also took them off of my "Best Short Ideas" list at that time.
But since then, XOM has rallied back to about $82 a share and SLB has risen to roughly $74 even though market risks are growing and oil prices seem likely to remain under pressure throughout 2016.
In other words, we're back to "Oil Vey!"