Clever, but as others pointed out likely to anger anyone who has to read your code.
NB: python bitwise operations are not super fast like in C. They don't get optimized down to single CPU instructions but instead are looked up like regular type methods (e.g. __str__ and __add__). An "ob[~0]" won't kill you even in a loop but don't bother translating simple math into bit-twiddling because it won't help (and might hurt if it inflates the number of operations).