Bolling: Roll the Dice on Melco and Wynn

Editor's Note: Eric Bolling is new to TheStreet.com. A top Wall Street trader and an on-air television personality for the Fox Business Network, Bolling specializes in commodities, technology, resource trades and ETFs. He will provide regular picks in his column.

So I am on the set of the morning show "Money for Breakfast" on FOX Business and one of the guests was talking on his cell phone. He was saying that they were "recession-proof"....and that "people will still..... " do something or another -- his voice trailing off as he turned to go onto the set for a hit. It immediately brought to mind one of the oldest trading adages around: "You gotta love this stock because it is recession proof."

About 10 years ago, my mentor called me into his office to talk about some trades I was making. I have always been an extremely active commodities and equities trader, but at the time I was expanding into a wide range of sectors. Since he owned the clearinghouse where I cleared my trades, he saw all my activity. He is the Godfather to my son, so I have no problem with him seeing my trading activity.

This day, he brought me into his office and asked me why I was buying casino stocks. I said that these are 'recession proof' stocks. He looked me in the eye and I thought he was ready to say, "what the %@*!" Instead, he held the bewildered look for a beat or two and walked away. It didn't take anything more than that look to make my brain start to go into overdrive. ...