Shorting All 3 Indices

Avatar photo Doug Kass on July 21, 2026

I shorted very small all three indices:

* $SPY $748.72

* $QQQ $709.25

* $IWM $295.97

I plan to work on a scale higher — with a wide berth.

Position: Short SPY (VS), QQQ (VS), IWM (VS) 

Phew!

Avatar photo Doug Kass on July 16, 2026

I stopped myself out for a small loss on my IWM ($IWM) short.

Obviously, timing wasn’t right.

But I will be back.

Positions: None 

Not Broadening

Avatar photo Doug Kass on July 16, 2026

I initiated a non-broadening short, $IWM, late yesterday:

Re-shorting the Russell

I am reinitiating a short in the Russell index:

* IWM $296.08

Non-broadening philosophy.

Position: Short IWM (S)

BY Doug Kass · Jul 15, 2026, 1:47 PM EDT

And I cautioned about the vicious rotation (which I view as unhealthy):

Abby Normal… Another Market Structure Warning

* This sort of sector and sub-sector movement rarely ends well…

The violence of the market’s rotation is not a good thing.

It is only a matter of time before we see a (leveraged) hedge fund blow up. 

I believe it might be presaging a market structure “event” — such as a flash crash (at some point).

Position: None

BY Doug Kass · Jul 15, 2026, 2:15 PM EDT

Position: Short IWM (M)

Not Broadening Out

Avatar photo Doug Kass on July 9, 2026

Despite pleas of broadening out, the equity market is teetering on a disbroadening.
Here were yesterday’s stats:

* $SPY    -0.29%

* $QQQ  +0.27%

* $IWM   -0.89% 

* $RSP   -1.22%

To me, key to the broadening-out thesis would be continued strength in financials, which was nowhere to be found:

* $JPM -$8

* $C – $3

* $KRE challenging (to the downside) some important support.

Position: Short JPM (S), C (S)

Things I Did Today

Avatar photo Doug Kass on June 23, 2026

Here are today’s things:

* Covered 1/2 of my $SPCX short at $153.85.

* Covered brokerage shorts in $MS at $222.51 and $GS at $1,080.90.

* Covered tech shorts: $DRAM at $70.26, $SNDK at $2,051 and $MU at $1,099. 

* Covered $IWM short at $293.33.

* Added to cannabis longs: $MSOS at $4.50, $GTBIF at $7.28, $TRLV at $8.55 and $VRNOD at $5.29.

Position: Long MSOS (L), GTBIF (S), TRLV (S), VRNOD (S); Short SPCX (VS)