iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,408 Blog Posts

Commodity Stocks Are Trying to Escape Their Graves

Today’s 100 point move in the Dow is a bit misleading, as only 55% of stocks are higher thus far. I wouldn’t put much credence into a large Santa Claus rally. However, like I said the other day, all of the conditions are present for a face ripping commodity driven rally.

Even our good friend, The Devil, is bullish on oil stocks here.

So, using some of my available cash, I bought into a distressed oil and gas name: SN.

I made a small fortune on SN in the beginning of 2015, and I hope to repeat past success now– into the dirt of the very worst commodity rout since Jim Rogers lost his bow tie in the jungles of Africa.

Bear with me.

The market isn’t a friendly environ. As a matter of fact, its been downright diabolical. Buying into SN here is almost gambling–but more of a calculated bet that the vast majority of oil bears have cleaned house and might look to cover their shorts ahead of what could be a repeat of early 2015.

Good luck with those dynamite sticks.

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2 comments

  1. t.c.

    The Sanchez family own a bank too called IBC. They’re a pretty big deal in Texas. http://www.wsj.com/articles/SB10001424052702304682504579157300748152492

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  2. toad37

    SN would reach 13-ish if it pulls off the same type of measured move.

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