Here are Doug Kass' top thoughts on some of the biggest stories of the week.

Sticking With Amgen Short

I am sticking with my Amgen ( AMGN - Get Report) short though it is down by another $2 (now below $182).
This is another one confidently recommended in the business media because of the clear bullish chart pattern at $187 recently.
My strong suspicion is that if the share price continues to decline, there will not likely be a follow-up and admission that the confident forecast was misguided.
So goes life in the biz media, where the positives are emphasized and the negatives are typically ignored.
Position: Short AMGN .

P&G Reports; I'm Not Impressed

The initial response to Procter & Gamble's ( PG - Get Report) earnings was positive.
I think this will prove to be an incorrect response.
P&G, Unilever ( UN) and Modelez ( MDLZ - Get Report) are three consumer packaged goods shorts that reside on my Best Ideas List.
All three face formidable headwinds, from my perch.
Position: Short PG, UN, MDLZ.
Originally published Oct. 20 at 7:26 a.m. EDT
Doug Kass shares his views every day on RealMoneyPro. Click here for a real-time look at his insights and musings. This week he blogged on:
  • How he's putting off the inevitable
  • How he feels about FANG

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