You go ahead and buy it. Buy all you want. Tell your friends, neighbors and parents to buy stocks, I will not even think about adding to my positions when oil is COLLAPSING (extra Faber) like this. I’ve already had my fill with bonehead trades, fantasies made from sugar and gunpowder, and it has resulted in nothing but pure agony.
This profession of mine can be rewarding, almost enriching at times. I get to learn about new businesses, about how they work and profit. Most of the time I set out a plan, a really good strategy that will make me some money. I go out into the market and buy up a bunch of stock. Other people walk around aimlessly, tripping into water fountains and drowning in cups of Fanta, but not me. I have a plan and the plan usually works.
Last year this plan netted me an 80% return. I was quite happy back then; now, I am quite fucking mad.
All of my plans are shit–they’re not working. I say this to you with less than 10% of my assets in oil. It isn’t oil that has me vexed, but the whole process of being kicked down the stairs, each and every time I attempt to climb to the top.
Having said that, oil is dropping too fast. You’d be smart to hold off on new buys until it stabilized.If you enjoy the content at iBankCoin, please follow us on Twitter