Top thoughts on stocks and the markets from TheStreet's Doug Kass.

Foot Locker Loses Its Footing
 
Originally published Aug. 18 at 9:32 a.m. EST
 
I listened to the downbeat Foot Locker ( FL) call.
 
Here are some observations:
 
* Jordan -- produced by Nike ( NKE) -- slowed considerably in North America.
* The company says it is still well-positioned in premium footwear as a market share gainer.
* FL doesnt believe vendors selling lower-priced, undifferentiated shoes on Amazon ( AMZN) are a big threat because FL is at the high end of the market.
* The company will close more stores than originally planned this year and is considering further restructuring.
* May comps down low single digits.
* June/July comps down high end of mid single digits
 
I wouldn't bottom fish here.
 
Position: None.

Riddle Me This?
 
Originally published Aug. 17 at 12:40 p.m. EST

I am shortly going to a lunch meeting (hopefully a lengthy and liquor-based one 'cause I don't want to be tempted to cover anything!) -- but I want to leave you with some thoughts.

Judge Scot Wapner (who has a conservative political view) and who I respect just said on Fast Money Halftime that Gary Cohn is considered "the only adult in the room" -- so if he stays (as the White House has recently suggested) wouldn't this be bullish? (I am neither agreeing nor disagreeing with his statement).

But I ask... if Cohn is "the only adult in the room," why would anyone want to expose his/her hard earned capital in the markets? Why would you want to be in the stock market room at all?
 
In addition, why would anyone who doesn't have risk on put it on here and now? Particularly (as Rev Shark observes) when the chaos in the White House is finally impacting the markets.
 
Shouldn't every investor and trader ask themselves these questions?
 
Position: none.
 
Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:
  • How bonds tell the tale.
  • How to play the Bannon bounce.

Click here for information on RealMoney, where you can see all the blogs, including Doug Kass'--and reader comments--in real time.

Action Alerts PLUS, which Cramer manages as a charitable trust, has no positions in the stocks mentioned.

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