Buying Pepsi in the Premarket
With the expected news out I am buying PepsiCo ($PEP) in the premarket at $124.55.
Position: Long PEP (S)
Covered the Rest of My Index Shorts
I just covered the balance of my index shorts with S&P futures -47 handles.
Position: None
Covering Some of Last Night’s Index Shorts
With S&P futures -48 handles and Nasdaq futures -275 handles I am covering some of last night’s index shorts and moving to very small in size:
* $SPY $772.50
* $QQQ $751.39
Position: Short SPY (VS), QQQ (VS)
The Bond Market Makes a New Low
* The 10-year Treasury note is yielding 5.345% (+7 basis points) this morning…
Stock futures lower (S&P futures -32 handles, Nasdaq futures -172 handles), likely tied to another new low in $TLT (-$0.60), rise in bond yields.
As well, stories of escalated attacks in Iran are lifting crude by four dollars a barrel.
Position: Short SPY (S), QQQ (S)
Pepsi Loses Its Fizz
Break in.
As expected, PepsiCo ($PEP) cuts its 2026 outlook on margin pressure.
Position: Long PEP (VS)
Not Broadening
* In fact, the markets are narrowing…
I wanted to repost this column from late yesterday afternoon:
Another Day That the Russell Isn’t Crowing
Res ipsa loquitor:
SPY -0.27%
QQQ -0.31%
RSP -0.71%
IWM -1.32%
Fortunately I have FIN TV turned off and I don’t have to hear about the market’s broadening (not!) — and how healthy the top heavy market is.
Position: Short SPY (VS), QQQ (VS)
BY Doug Kass · Oct 7, 2026, 3:51 PM EDT
Position: Short SPY (S), QQQ (S)
We’re Still Oversold
The S&P Short Range Oscillator remains oversold at -3.69% vs. -3.88%.
As noted earlier and in the Comments Section, we reshorted the indices at the beginning of the New York Yankees game last night (ugh!).
Position: Short SPY (S), QQQ (S)
Wednesday Evening Shorting
From the Comments Section:
Dougie Kass
Wednesday evening trading 740PM – shorting more Indices:
SPY $777.70
QQQ $758.99
Position: Short SPY (S), QQQ (S)
Stocks Slip From Records But Pare Losses After Strong 10-Year Auction
Long-end yields again hit multi-decade highs before a historically strong 10-year auction pulled them back, letting large-caps pare losses.
Wednesday’s After-Hours % Movers
Position: None