Walt Disney Stock (DIS)

* We have previously sold all four of these consumer-based stocks at much higher levels * What to do now? Walt Disney ($DIS) continues to disappoint (-$3 today) — fundamentally and in the stock market. For the numerous reasons I have mentioned in the past, I would not own the stock until the low $90s. …

Disney’s ($DIS) shares have sat out the multi-year bull market and we have sat out Disney. Our analytical criticism is multi faceted: * Admission prices at the company’s theme parks are absurdly high — a weakening consumer in the K-shaped economy will almost certainly experience demand elasticity (and a reluctance to attend the parks). * …

* Uber ($UBER) * Disney ($DIS) * Netflix ($NFLX) Position: None

* And fading it… I don’t own and am currently short (and have been recently short C, JPM, GS, MS, UBER, NFLX, homebuilders, etc.) some of the most consensus sectors. I am long some of the most non-consensus sectors. Consensus Longs: * Memory: SanDisk ($SNDK), Micron ($MU), Intel ($INTC), AMD ($AMD), Applied Materials ($AMAT) (“it’s different …

Disney DIS reports quarterly results before the opening tomorrow morning. As mentioned when I sold the position recently, I expect the company to guide lower vis a vis consensus expectations. Position: None