Doug Kass Buying Up Shares of JPMorgan, Bank of America and PNC Financial (JPM, BAC, PNC)

Over the past two days, Doug Kass has went long, shorted and again went long the market. There is a lot to learn from Doug Kass, but his deft timing is not only something to be admired, but quite amazing.

Doug Kass decided to go short the market yesterday while it was hitting the highs of the day. Kass covered the balance of his short book today.

Instead of just sitting still, Kass went all in on Bank of America (NYSE: BAC) at approximately $14.80. Bank of America is trading down from Kass's entry point, but with his recent picks, it seems like he'll eventually be proved correct.

Kass also bought shares of JPMorgan (NYSE: JPM) and PNC Financial Services (NYSE: PNC). He is looking at building up his position in JPMorgan and PNC Financial.