January Bounce Candidates in Financials
Here is a good menu for possible January bounces in the financial sector (after tax selling over the next two months):
Position: None
Staples Slammed
Staples (consumer non-durables) are getting hit over the last few hours.
A reminder, I am down to VS on $KMB, $PG and $KO.
I sold out my entire $PEP holdings.
I would be a buyer of the space on weakness — but not at current prices.
Position: Long KMB (VS), PG (VS), KO (VS)
WSJ’s Apple Duo Review
Here is the WSJ’s review of Apple’s iPhone Duo.
iPhone Duo Review: Apple’s $1,999 Pocket-Friendly Folding Tablet Is…a Lot – WSJ
Position: None
Medium Size Me
At $773.55, I moved to medium-sized short $SPY.
Position: Short SPY (M)
The Defeat of Value Investing
Position: None
My Comment of the Day
Dougie Kass
I couldn’t disagree more with Joe Terranova on Halftime now (I am not posting on Twitter!).
Though I am not high on large cap tech my disagreement is not that I don’t think AI related stocks will begin to outperform.
It is the degree of confidence/hubris that he is expressing in his view that the AI momentum trade will resume.
Position: None
Programming Note
I have a business luncheon — out from noon to about 1:30 PM
Position: None
Doug Kass: Move Over Warsh, Nvidia Might Be Lender of Last Resort
Let’s look at who is really the most powerful banker in the world right now.
Recommended Viewing
A great MRKT Call today with Dan and Carter.
Lets go to the tape.
MRKT Call – Wednesday, October 21st
Position: None