This is a tricky time for the markets, On one hand, we seem to be heading down the shit pipe. On the other, buying stocks when sentiment is weak is usually a great time to catch a swing.
Due to an erroneous downgrade, [[FTK]] is trading lower. This, my friends, is what I call a buying opportunity. With oil shooting higher, I like my chances being long [[RIG]], [[ARD]], [[PCZ]] and [[DO]].
Some banks are bucking the downtrend, namely [[UB]], [[HCBK]], [[BOH]], [[HBAN]] and [[CMA]]. Conversely, big losses can be found in all of the brokers and select regionals, like [[EWBC]], [[FTBK]] and [[STI]].
If you must be invested, stay long energy and short everything else. The next big leg down is likely to be found in tech. The financials have been murdered and may bounce soon. In short, having an oversized cash position is not a bad idea.
If you have big gains, like “The Fly,” it makes little sense to press your bets here.If you enjoy the content at iBankCoin, please follow us on Twitter