It makes no sense to buy stocks here, which is why I am buying. While it’s true, the oil sector is being machine gunned to death, I have hopes of some sort of miracle.
Nonetheless, the early rally has been defeated and pessimism is back in control.
As you know, my top buys are General Electric Company [[GE]] and Citigroup Inc. [[C]] , mainly as a bet that the whole house of cards does not fall.
Can the house of cards collapse?
But, it has been my experience that the world does not end, even when it appears to be inevitable. While the pain is immense, trying to pick at names that have received the death card; the reward can be great.
Just know, the risks are extremely high now and is not for everyone. If you have a low risk tolerance, please, sit this one out.
Unlike past knife rides, I will not let these positions get away from me. Should they begin to mushroom cloud me, I will cut them loose.
Boy is this fun. What a stupid, asinine, industry I chose to gain employment in.
UPDATE: I bought 2,000 GameStop Corp. [[GME]] @ $19.09 and 2,000 UnitedHealth Group Inc. [[UNH]] @ $18.20