The Good, the Bad and the Ugly; Explaining the Inexplicable: Doug Kass' Views

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The Good, the Bad and the Ugly (Another Boring Edition)

Originally published May 24 at 3:18 p.m. EST

"If you work for a living, why do you kill yourself working?"

-- Tuco, the Ugly: "The Good, the Bad and the Ugly" https://www.youtube.com/watch? v=AFa1-kciCb4


No "Takeaways" today as the action was another painfully boring, uneventful and with little individual stock price movements!

It was also another day dominated by strategies that respond to patterns and correlations and not to a sense of value.

So let's move to the abbreviated Monarch Notes form of "Takeaways," with "The Good, the Bad and the Ugly."

The Good
 
* Markets continued higher.
* Our "Trade of the Week" (long Allergan  ( AGN) ) prospered (+$4.25).
* Bonds rallied.
* Brokerages firmed (especially of a Goldman Sachs (GS) -- kind).
* (T)FAANG moves higher (what else is new?).
* New highs in junk bonds.
* McDonald's  ( MCD) , Coca- Cola  ( KO) , DuPont  ( DD) , Visa  ( V) , Boeing  ( BA) , Intuit  ( INTU) , NRG  ( NRG) , Mattel  ( MAT) , Hasbro  ( HAS) .
 
The Bad
 
* Crude oil suffered small and so did Energy Select Sector SPDR (ETF) ( XLE) .
* Twitter  ( TWTR) looks like it may be rolling over.
 
The Ugly
 
* The U.S. dollar was lower, again.
* Tiffany  ( TIF) , Signet Jewelers  ( SIG) , Advance Auto Parts  ( AAP) , T. Rowe Price  ( TROW) , Ulta Beauty  ( ULTA) , GE  ( GE) , Cisco  ( CSCO) , Alexion  ( ALXN) , Tractor Supply Co. ( TSCO) .
 
Position: Long AGN large DD small Short KO small.
 

Trying to Explain the Unexplainable

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