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 (Early Afternoon Edition)

Originally published March 23 at 3:41 p.m. EST

As I will shortly be leaving, there will be no "Takeaways." So, moving to the abbreviated "Monarch Notes" with The Good, the Bad and the Ugly.

Here's a quick review of the day's market action (at least before the healthcare vote was delayed):

THE GOOD

* Off of the PVH (PVH) beat, retailers are trading better - led by Home Depot (HD) , Foot Locker (FL) and Nike (NKE) .
* Rs (The Russell) over Ss and Ns.
* Financials (especially of a Goldman-kind (GS) ) in a possible "dead cat bounce."
* Allergan (AGN) gets jiggy.
* Lumber +$4/
* Snap (SNAP) is, well, snappy.
* Campbell Soup (CPB) up a beaner on a $1.5 billion repurchase announcement.
* DuPont (DD) continues DuLovely.
* Radian (RDN) back up after some recent weakness
* Berkshire (BRK.A) near all time highs with a solid gain today.
* [iShares Dow Jones US Real Estate] (IYR) (REITs) with a solid gain.
* Homebuilders a bit higher after a strong rally over the last month.


THE BAD

* Gold -$5. But the yellow metal has had a great run over the last few weeks. (The failure of the junior miners to rally continues to rattle me. GDJX and JNUG down again)
* Auto stocks lower on Ford's (F) preannouncement.
* "Value trap" Gilead Sciences (GILD) makes another new low.

THE UGLY

* Alphabet (GOOGL) -$10.

Position: Long DD small, RDN large, AGN large, CPB large; Short SPY small, IWM small, QQQ small, IYR small GS .

Caterpillar Sales Aren't the CAT's Meow

Originally published March 20 at 10:24 a.m. EST

Caterpillar (CAT) reports February 2017 retail data: total machines worldwide down 1% year over year and down 8% month over month:

Total Machines (February 2017 vs. January 2017)

  • Asia Pacific+39% versus +26%
  • EAME: -3% vs -13%
  • Latin America: -21% vs -29%
  • North America: -10% vs -13%
  • World: -1% vs -8%

Total Energy & Transportation (February 2017 vs. January 2017)

  • Power Gen -13% vs -15%
  • Industrial -11% vs -7%
  • Transportation -15% vs -15%
  • Oil and gas -3% vs -8%
  • Total -9% vs -11%
Position: Short CAT small .

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