Month: July 2026

* As I suggested I would yesterday…

From Comments Section:

Dougie Kass

Shorted APPL $329 coincident with the EPS release

BY DOUG KASS · Jul 29, 2026, 7:30 AM EDT   

Time to Short Apple?

The shares of Apple (AAPL) keep going higher because they are NOT spending on AI.  

All the money has to go somewhere, so instead of taking it out of the market, they put it into Apple — in the great rotation that has highlighted trading in the last few weeks.

Apple recently had a poor quarter and its shares sold off on the basis of its fundamentals — but it’s now going straight up just due to flows. 

Apple’s top and bottom-line growth since 2000 is uninspiring as it is basically a giant company that has not innovated anything for about the last 10-15 years since Steve Jobs died and has conspicuously slowing growth.

Apple is a large cash-generating machine that has lived off of taking price up for its products, buybacks and passive money flows into their stock (because it is such a big index component). 

Now it is trading at 40x and at its all-time high — as it has a love fest with momentum-based investors. 

This speaks volumes about what the equity markets have become and how things are valued.    

I don’t typically short value but I am considering an AAPL short.

(I hope Warren Buffett reads this!)

Position: Short AAPL (S)

As of 4:32 PM (post-Apple earnings release):

After-Hours % Advancers

After-Hours % Decliners

Position: None

Closing Volume

– NYSE volume 18% above its one-month average
– NASDAQ volume 11% above its one-month average  
– VIX index: down 17.28% to 17.09

Breadth

S&P 500 Sectors

% Movers

Nasdaq 100 Heat Map

Closing S&P 500 Heat Map

Position: None

I won’t be around for the earnings releases after the close as I have to leave early for a family event.

Thanks for reading my Diary today.

Enjoy the evening.

Be safe.

Position: None 

Wolf Street howls about inflation. 

Red-Hot Inflation & (Inflation-Adjusted) Strong Domestic Private-Sector Demand Marks Q2 GDP. Debt-to-GDP Ratio Dips to 121.5% | Wolf Street

Position: None