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Actionable news in M: MACY'S Inc,

Macy's and J.C. Penney: Best of Kass

Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

  • How he's buying Macy's.
  • How he's starting a long on J.C. Penney.

Click here for information on RealMoney, where you can see all the blogs, including Doug Kass'--and reader comments--in real time.

Though the shares of Macy's (M) appear ahead of themselves on a near-term basis, I plan to purchase the name on weakness toward the $35-to-$38 level.

Here are some second-quarter observations:

  1. The weakness in...

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