Kimberly Clark Stock (KMB)

* 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. …

I covered some $JOET at $44.97 and $GRNY at $27.32. I’m also adding to $MSOS long and bidding for consumer staples (under the market) — $PEP, $PG, $KMB. Position: Long MSOS common (VL) and calls (S), PEP (S), PG (S), KMB (S); Short JOET (VS), GRNY (VS).

* Market breadth has improved. * The Russell is crowing relative to the senior averages. * Bonds can’t rally. * Financials can’t hold their gains. * Many large-cap tech stocks continue to show signs of rolling over. * It is all $NVDA, all the time. * On the other hand, consumer non-durables ($KO, $PEP, $PG, …

I am further reducing consumer staples exposure on the strong move today and over the last week — $PEP, $PG, $KMB and $KO. These stocks have been reasonably good performers and stalwarts in a backdrop of volatility. The recent advance has reduced the reward vs. risk. Position: Long PEP (VS), PG (VS), KMB (VS), KO …

* 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 …