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This Quarter's Sentiment:
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From the Blogosphere
Notable Analyst Rating Changes 4/15: AYE, YUM, SLG, CVC Upgraded; GS, SBUX, TK, CMG Downgraded
UPGRADES:Barclays upgrades Allegheny Energy (NYSE: AYE) from Equalweight to Overweight. Price target increased from $35 to $40. Click here for the full report.JP Morgan upgrades Yum! Brands (NYSE: YUM) from Neutral to Overweight. Goldman Sachs upgraded SL Green Realty Corp. (NYSE: SLG) from Neutral to Buy.Morgan Stanley upgrades Cablevision (NYSE: CVC) from Underweight to Equalweight. For daily real-time Upgrades go to http://www.streetinsider.com/UpgradesDOWNGRADES:JP Morgan downgrades Goldman Sachs (NYSE: GS) from Overweight to Neutral, citing an unattractive valuation.Deutsche Bank dow...
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Gingerly Stepping Back into Commercial Real Estate Shorts
<>I am VERY gingerly stepping back into the short side in the basket of 5 commercial real estate stocks we hold. We just saw a short squeeze of epic nature and being a participant I am still looking for the teeth that were kicked out of my mouth. Again... gingerly. Of the 5 names SL Green (SLG) indeed has been the weakest (NYC office market party) - other than last Friday when "The Club" pushed up REITs it's been dead man walking.
Right now I don't have a very good feel for this market, because the ethos of the consumer is back - which I highly disagree with - are lending strength to areas of >...
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ProLogis (PLD) with Massive 115M Shares (At Least) Share Offering
Bookkeeping: Gingerly Stepping Back into Commercial Real Estate Shorts
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I am VERY gingerly stepping back into the short side in the basket of 5 commercial real estate stocks we hold. We just saw a short squeeze of epic nature and being a participant I am still looking for the teeth that were kicked out of my mouth. Again... gingerly. Of the 5 names SL Green (SLG) indeed has been the weakest (NYC office market party) - other than last Friday when "The Club" pushed up REITs it's been dead man walking.
Right now I don't have a very good feel for this market, because the ethos of the consumer is back - which I highly disagree with - are lending strength to areas...
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Bookkeeping: More Rebuilding of Short Exposure
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Shorts are hurting today that is for sure, but the more bullish the crowd is getting the more I want to begin building on the short side. There is a lot of recency bias in this market... as I scan the internets the biggest fear has changed from losing money TO missing this great move.
As always we are incremental in our approach, layering in and out of position so while yesterday's short additions [Apr 1: Bookkeeping - Adding to Shorts] exploded in our face we have had many wins on this side of the ledger and will in the future. They don't always work out right away hence the gradual build...
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