Seeking Alpha

Doug Kass continues net short into this rising market, noting the S&P - back at its spring...

Doug Kass continues net short into this rising market, noting the S&P - back at its spring highs - could be making a triple top. Also of interest, the Transports (IYT) and Small-caps (IWM) have sharply diverged from SPY's solid performance over the past month. Then there's the VIX - it's rarely paid to buy stocks when it's been this low, he says.
From other sites
Comments (10)
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    Doug has been short for 1000 points of this rally
    14 Aug 2012, 01:31 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Would like to see Doug's P&L...I do think he has decent trading instincts (or had). Net short has been very painful in the last few weeks, better to have had a long-short skew.
    14 Aug 2012, 03:24 PM Reply Like
  • McOption
    , contributor
    Comments (104) | Send Message
     
    By most measures the S&P should be in the dirt right now, but I was watching financial news at lunch today and saw how bad-off the Eurozone is. There are only 3 countries that have any measure of stability in the zone.

     

    I am a contrarian trader and most often short, but US stocks are probably the best place for worldwide investors to be putting money right now.

     

    Something is currently holding the S&P up, and I am certain it is not investor's enthusiasm about the future that is doing it. Just saying.
    14 Aug 2012, 05:46 PM Reply Like
  • carmine1
    , contributor
    Comments (10) | Send Message
     
    wrong. he commented a few months ago range was likely 1300 - 1400. it over shot and he is shorting now. i agree.
    14 Aug 2012, 05:56 PM Reply Like
  • carmine1
    , contributor
    Comments (10) | Send Message
     
    the "wrong " is for remyngton's statement
    15 Aug 2012, 02:00 PM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    sure about that , Einstein ?
    12 Sep 2012, 12:29 PM Reply Like
  • J 457
    , contributor
    Comments (951) | Send Message
     
    I think Kass is correct for the short term. Retail buyers will start to muddle back to start new positions once SPX drops down to 1,200-1,250 range. 1,400 is too expensive in light of all the headwinds faced in the next 0-6 months.
    14 Aug 2012, 06:02 PM Reply Like
  • whidbey
    , contributor
    Comments (3395) | Send Message
     
    right longer term too. Just be patient, nothing is what it seems today.
    15 Aug 2012, 07:31 PM Reply Like
  • phorque
    , contributor
    Comments (11) | Send Message
     
    There is only one time that I can remember Dougie not being short. On March 3rd, 2009 (I believe) he announced on CNBC that the market would bottom in "two or three days". The absolute low was March 6th. An incredible call in the face of what seemed to everyone to be the end of the world as we knew it.
    18 Aug 2012, 03:04 PM Reply Like
  • Remyngton
    , contributor
    Comments (354) | Send Message
     
    If the market fell 1000 points , we'd back at a level where Kass originally recommended selling
    12 Sep 2012, 12:28 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs