The lower the market goes, the greater the chances are for a ‘bounce back/short squeeze.’ I know things look dire at the moment. However, as sure as I’m sitting here, the market will rally again, much to Mr. Mortgage’s chagrin.
Now, I do not have a death wish to bottom fish for banks, despite my dastardly [[UYG]] position. However, I think it makes sense to put my balls on the oil guillotine, for the blade is very dull.
I am not afraid of you oil bears. You’re all weak and old. The whole lot of you.
Just know, if I hear any of you talking shit about [[RIG]], I may spend resources to track you down, then have your mustache punched off at your favorite eatery– while drinking a fine Chardonnay.
Other energy stocks worth buying are [[HP]], [[NOV]], [[ARD]] and [[OII]].
Aside from longs, sell short any bank located in California. Personally, I am short a variety of banks, yet again, including: [[HBHC]], [[CATY]], [[WABC]], [[HRB]], [[PACW]], [[HDB]], [[PCBC]], [[VLY]] and [[UMPQ]].
Thus far, PCBC and VLY are leading the way, for inclusion into the NEW “Reverse Five Horsemen” of Death and Hard Work.
NOTE: Another buck shaved off [[PZN]]. Losers. Look for [[JNS]] to follow suit.If you enjoy the content at iBankCoin, please follow us on Twitter