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


Dillard's Report Positive, Nordstrom Not So Much

I have just returned to my office from Thursday afternoon's presentation.

I haven't had a chance to fully parse the Dillard's (DDS - Get Report) 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.

By contrast, Nordstrom's ( JWN - Get Report) results were disappointing.

Macy's (M - Get Report) , a new long name, traded well throughout the day. Here is a summary of my thesis.

As to the market, it staged the predictable rally -- but I am now adding to my SPDR S&P 500 ETF (SPY - Get Report) short at $258.29 in the after hours.

Despite the move off the lows, my short book performed well Thursday -- led by Caterpillar (CAT - Get Report) and Deere (DE - Get Report) in the ag equipment space and rails Union Pacific (UNP - Get Report) and CSX (CSX - Get Report) (new short names). More on these four names early next week.

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

Originally published Nov. 9 at 6:13 p.m. EST
 
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Action Alerts PLUS , which Cramer manages as a charitable trust, has no positions in any of the stocks mentioned .