Here are Doug Kass' top thoughts on some of the biggest stories of the week.
Dillard's Report Positive, Nordstrom Not So Much
I haven't had a chance to fully parse the Dillard's (DDS) report -- but it looked good. The shares were up smartly during the regular trading session -- adding +$6.20. Post market and earnings the shares have climbed another +$2.50, to over $59.00 -- for a total gain of +$8.65 on the day! I have held on to a very large and expanding position in DDS, having purchased stock nearly every day in the last week or two.
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As to the market, it staged the predictable rally -- but I am now adding to my SPDR S&P 500 ETF (SPY) short at $258.29 in the after hours.
Despite the move off the lows, my short book performed well Thursday -- led by Caterpillar (CAT) and Deere (DE) in the ag equipment space and rails Union Pacific (UNP) and CSX (CSX) (new short names). More on these four names early next week.
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Action Alerts PLUS, which Cramer manages as a charitable trust, has no positions in any of the stocks mentioned.
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