Author: Doug Kass

After-Hours % Advancers

After-Hours % Decliners

Position: None

Closing Volume

– NYSE volume 9% above its one-month average

– NASDAQ volume 7% above its one-month average

– VIX index: down 0.61% to 17.88

Breadth

S&P 500 Sectors

% Movers

Nasdaq 100 Heat Map

Closing S&P 500 Heat Map

Position: None

I have re-shorted Tesla $TSLA at $444.95.

Position: Short TSLA (VS)

Out here in the fields
I fight for my meals
I get my back into my living
I don’t need to fight
To prove I’m right
No I don’t need to be forgiven
No no no no no no no Don’t cry
Don’t raise your eye
It’s only teenage wasteland

– The Who, Baba O’Riley  Teenage Wasteland by The Who

I added to PepsiCo $PEP at $149.47 and $PG at $142.22 longs this afternoon.

Position: Long PEP (S), PG (S)

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)