People That Live in Glass Houses
This tweet from Graham Farrar, president of Glass House ($GLAS), could bring some stability to GLAS shares:
I have still not spoken to management.
Position: Long GLAS (S)
Shorted SPY Last Night as Oscillator Slips to Neutral
The S&P Short Range Oscillator slipped from modestly oversold to neutral at -0.06% vs. -0.66%.
Yesterday I traded $SPY from the short side and made a small profit on the move lower from the highs.
Last night I reloaded on the short side:
Dougie Kass
I am back shorting SPY at $771.57.
I am a seller on a scale higher tonite.
Position: Short SPY (S)
Tuesday’s Closing Stock Market Data
Closing Volume
– NYSE volume flat to its one-month average
– NASDAQ volume 3% below its one-month average
– VIX index: down 5.86% to 17.36
Breadth
S&P 500 Sectors
% Movers
Heat Maps
Position: None
My View on Netflix
Repeating for emphasis, I would not bottom fish in Netflix ($NFLX).
I expect in line-to-better 2Q2026 results but a possible lower forward guidance as margins are pressured.
From last month:
Netflix Is Too Low to Short and Too High to Buy
I would continue to avoid buying (and “bottom fishing”) in Netflix (NFLX) for the reasons I have previously mentioned:
* Netflix has nearly saturated the domestic market (as well as many other developed countries). These markets are significantly more profitable than the non developed arena.
* Future Netflix sales/profit growth will come from developing country markets that provide substantially less revenue (and income) per subscriber.
* Netflix’s original content programming has been unspectacular over the last 12 months (or more) — and existing content has suffered.
In the past I have been short NFLX, but it is no longer priced as an attractive short.
Position: None
BY Doug Kass · Sep 22, 2026, 1:50 PM EDT
Position: None
Nothing to Do at the Close
Yesterday there was a large market on close sell order (over $8 billion). Today there is no real imbalance.
Position: None
Tweet of the Day (Part Trois)
From my pal Vitaliy:
Position: None
Subscriber Comment of the Day
From Randorama:
Randy
PayPal Reports Lobbying Congress on Marijuana Banking Reform in Third Quarter
The SAFE Banking Act would establish federal protections for financial institutions providing services to state-legal marijuana businesses, addressing longstanding concerns about access to banking and payment processing services within the industry.
Beyond marijuana banking, PayPal’s third-quarter disclosure identifies lobbying on cryptocurrency regulation, small business lending, artificial intelligence, consumer financial protections, taxation and trade policy.
Position: None
On a Mission
No trades since last report.
On several research missions.
Position: None
Earnings After the Close Tuesday
Position: None