I am buying gigantic quantities of [[RIG]] here, despite what you assholes think. To couple that, I went LONG [[UYG]] at around $17.45. I know the banks blow; but I have a hunch.
Also, I sold out of all of my [[DUG]].
I will keep all of my [[FXP]], [[REW]] and [[SMN]]—just in case.
My sense, the market is too shorted. I couldn’t borrow stock today, in like 15 names. Every one is setting up for a washout.
Look, the long term is still grim. However, with all of these rookies out there shooting at banks, and the Gov’t handing out cheese to [[FNM]], beware of a squeeze.
I’ll keep my [[HRB]], [[PACW]] and [[HDB]] shorts, based upon egregious valuations. But, in general, I am done shorting stocks—until my mood changes, of course.
Have a terrible weekend, fuckers.
UPDATE: Note the Godliness of my [[PZN]] calls. I insist.If you enjoy the content at iBankCoin, please follow us on Twitter