I deployed 2.5% of my account to buy BAS at $12.61.

I put another 2% of my account into HCLP for $47.18.

I put another 3% of my account into VOC for $9.83.

Small margin balance. I am not just commenting when I say I am betting on oil. What we are experience in the oil market is not at all unusual. What is unusual is the sheer lengths that people have taken to sell oil stocks, with almost no evidence, other than a little correction in oil prices, that they are right.

It will not happen immediately, surely. There will be more volatility and panic. But rest assured that the rout in the oil market will be unmade soon enough.

HCLP is already back to $54. You could have purchased shares for $40 just last week. The markets were scared, but then HCLP announced a 9% hike to its dividend. Now all is forgiven.

BAS is back to $15 from $11.50 last week.

ETP is above $65 again.

NADL is flirting with $6.

VOC has regained $11.

Those are big comebacks. I told you, the scare was not about a looming slowdown in the oil and gas space. It was more about frightening you into loosening your grip on the precious. Now that Jimmy’s friends have loaded up the trucks, we’re free to stop pretending like that Saudi Arabia rumor was ever anything more than the flapdoodle it was.

For the day I’m already up another 2%.

I couldn’t bring myself to sell all the way to 20% cash. The waterfall left too many of my purchases underwater still and the hope of follow through pins me to my seat.

But I took quick profits in HCLP, VOC, BAS, and SXCP (I still own all four names, I just pared down sizing) ranging from 5-12%, and then I completely sold my BTU position for a 22% loss. That will lower the tax bill. I like BTU but it’s time to start thinking of April.

Despite having little cash, this lowers my risk profile substantially. The margin was worth it and if the oil and gas space has any sort of meaningful follow through, I’ll be back at new highs by Thanksgiving.

Gobble gobble.

The takeaway is the oil market is not actually slowing down. Please note the bolded lines below.

This selloff is a vicious ploy to separate fools from their good investments.

In the energy services industry:

FORT WORTH, Texas, Oct. 10, 2014 /PRNewswire/ — Basic Energy Services, Inc. (BAS) (“Basic”) today reported selected operating data for the month of September 2014. Basic’s well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 71,800 producing a rig utilization rate of 71%, compared to 74% and 69% in August 2014 and September 2013, respectively.

During the month, Basic’s fluid service truck count increased by 21 to 1,045. Fluid service truck hours for the month were 215,800 compared to 215,100 and 189,600 in August 2014 and September 2013, respectively.

Drilling rig days for the month were 327 producing a rig utilization of 91%, compared to 83% and 74% in August 2014 and September 2013, respectively.

Roe Patterson, Basic’s President and Chief Executive Officer, stated, “Activity levels in September were steady across our footprint. We experienced the normal impact of the Labor Day holiday as well as severe rainy conditions in the Permian Basin and Mid-Continent operating areas which impacted utilization in all segments. Despite wet conditions in mid-September, our stimulation segment maintained high levels of activity as we were able to work at full pace during the weekends in the latter part of September to overcome most of the weather effect in that segment. During the month, we received the final components of our previously announced 2014 horsepower additions. Our contract drilling operations were able to perform at higher levels than we achieved in August. Fluid service truck hours were generally flat and well servicing utilization was lower in September compared to August as these segments were impacted most by the Labor Day holiday and the rainy conditions.

“We now expect our third quarter revenue to be approximately 9% to 10% higher sequentially compared to our previous guidance of 4% to 6%. Revenue from our completion and remedial segment, particularly from stimulation services, was greater than expected as our horsepower additions were deployed in the field earlier than anticipated. Despite the greater than anticipated revenue growth, pricing remains very competitive, especially in our fluid services and well servicing segments as we continue to experience higher labor and other costs.

In the frac sand land:

Houston, Texas – October 9, 2014 – Hi-Crush Partners LP (HCLP), or Hi-Crush, today announced an amendment of its long-term frac sand purchase agreement between Hi-Crush Operating LLC, a subsidiary of Hi-Crush, and Halliburton Energy Services, Inc., or Halliburton. The amendment to the agreement, which requires Halliburton to pay a specified price for a specified minimum volume of frac sand each month, increases the annual minimum committed volumes through December 31, 2018. The agreement continues to provide for further significant increases in annual volumes dependent on Halliburton`s aggregate annual demand for Northern White frac sand.

“Halliburton has been an important partner to Hi-Crush since the inception of our operations. We continue to broaden our relationship with Halliburton by increasing the volumes we sell to them,” said James M. Whipkey, Co-Chief Executive Officer of Hi-Crush. “This most recent contract announcement brings our total aggregate contracted volumes in 2015 to 6.6 million tons. As previously announced, our sponsor has started the permitting process for development of a fourth Northern White frac sand production facility to meet the growing demand for our sand. In addition, we are adding expanded silo storage capacity at several of our distribution facilities to allow for even more efficient delivery of frac sand to our customers.”

Don’t be stupid.

Watching the oil market today was simply too stupid for my brain to handle. It is ground zero of a frenzy that is being fed by the weak. This is the time when predators should be having an all you can eat Retail Trader buffet.

In that spirit, I dipped into a 5% margin balance, this being for the first time in years.

I added to HCLP for $41.32.

I bought more BAS for $17.76.

And then I threw some VOC on top for $10.90.

It is incredible – indeed almost unthinkable – but I have gone from being up more than 20% this year to gains inside of 5%.

Now is the time to press the envelope.

Added to HCLP for $54.87