Kass Still Short Retailers, Says Financials Always Lead Market Lower
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Seabreeze Partners' Douglas Kass reports that he is still short Retail HOLDRs (NYSE: RTH), which is currently up about 2 percent on the session, though its off of more localized highs of $114.19 on May 13th.
A tweet from @DougKass: "still short rth,...consumer is the achilles heel to the economy and markets."
He commented at about noon: "gun to my head the market has seen the high on the day... look at gs, ms and bac - financials almost always lead."
Goldman Sachs Group (NYSE: GS), Bank of America (NYSE: BAC), and Morgan Stanley (NYSE: MS) are all lower on the session.
A tweet from @DougKass: "still short rth,...consumer is the achilles heel to the economy and markets."
He commented at about noon: "gun to my head the market has seen the high on the day... look at gs, ms and bac - financials almost always lead."
Goldman Sachs Group (NYSE: GS), Bank of America (NYSE: BAC), and Morgan Stanley (NYSE: MS) are all lower on the session.
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