Author: Doug Kass

I took a small trading profit in $PSUS at $42.25

Position: None

It's official:

Nvidia, $NVDA, has surpassed silver as the second largest asset in the world, worth $5.52 trillion.

Google is less than 4% away from becoming the second company in history to hit $5 trillion in market cap.

We are witnessing a historic technological revolution. pic.twitter.com/6mAP2QGHRX

— The Kobeissi Letter (@KobeissiLetter) May 13, 2026

Position: None

* Mama mia, mama mia!

* Carry on, carry on as if nothing really matters… 

Is this the real life? Is this just fantasy?
Caught in a landslide, no escape from reality
Open your eyes, look up to the skies and see
I’m just a poor boy, I need no sympathy
Because I’m easy come, easy go
Little high, little low
Any way the wind blows doesn’t really matter to me, to me

– Queen, Bohemian Rhapsody

Inflation rising and interest rates higher, breadth with a foul odor, equal-weighted S&P underperforming the S&P Index, etc etc:

Sometimes I wish I never shorted at all…

Note: I will be traveling tomorrow!  You will be in the capable hands of Chris Versace.

See you back on Friday morning!!!

Ugly, Tailing 30Y Auction Makes History With First 5%+ Yield Since The Great Quant Crash Of Aug 2007 https://t.co/o0OWXL7uM7

— zerohedge (@zerohedge) May 13, 2026

Position: None

I moved up to small sized short the indices:

* $SPY $743.72

* $QQQ $716.37

Position: Short SPY (S), QQQ (S)

At 1:54 PM:

Breadth

S&P 500 Sector ETFs

Nasdaq 100 Heat Map

S&P Index ($SPY) +0.61%.

Equal Weighted S&P Index ($RSP) -0.45%.

While the market’s breadth is stinking up the joint:  

Position: Short SPY (VS) 

I call more B.S.:

@KellyCNBC The Micron analyst you are interviewing is bullish on $MU. This morning he raised his price target from $500 to $800 (where it is currently trading).
Why even interview him if he was so far off in his expectations for $MU share price?
He is making it sound that he…

— Dougie Kass (@DougKass) May 13, 2026

Position: None