Let $M>0$ be given. Define $\gamma = x/y^2$. We know that $|\gamma + 1/\gamma| > 1$, regardless of the values of $x$ and $y$. If $x \to 0$: $\gamma \to 0$ and $1/\gamma \to \infty$. Fix $x$ to satisfy $|\gamma| < 1/M$ and choose $y$ small enough so that $|\gamma + y^2/\gamma| < 1/M$.
Right?