CNBC Contest2

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Looking for ugliness and fear. These are not stocks for a 401K plan. Just stocks that can pop 40-50% on any good news at all.

The Subprime mess is the gift that keeps giving. The media thinks the paper is worth 80 cents onthe dollar but legit banks are pricing the paper at 95 cents on the dollar. ALl of the subprime guys, even NEWC, will live to fight another day.

Next, I look at high short interest stocks with insider buying (check out OPSW and OPWV below).

Also, I look at some refineries that will benefit from the crack spread and also some fear situations around the TXU deal.

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