Go Long Oil, Short Stocks!

The U.S. stock market’s strong upward bias at this moment is the sickest, stupidest, most recklessly suicidal behavior I have witnessed in nearly 40 years of trading.   Odds of a nuclear catastrophe are mounting by the hour, and if that weren’t worrisome enough, the world has backed Libya’s paranoid dictator into a corner.  And yet, here is the E-Mini Dow trading as much as 110 points higher late Thursday night. Any speculator who goes home long stocks or short oil on Friday is going to get his head handed to him on Monday.  Rick’s Picks subscribers should look to fade this evening’s hubris on Friday in any way possible — and damn-the-torpedoes.