This post was just published on ZYX Short Change Alert.
Consider reducing the total oil position size combined between the regular position and the trade around position to 25% of the full core position size in the zone of $11.33 to $11.75 in the ETF USO. For tracking purposes, temporarily we will have no stops on the remaining 25% as the risk is being reduced by reducing the quantity. Those who cannot afford the risk may consider honoring the stops previously given.
The reason for this change is fully described in the Morning Capsule.
The tentative plan is to reinstate stops shortly and potentially add to the position at a higher price. However, it is important to note that oil is the most volatile market in the world, nothing is cast in stone and we will need to act based on new data.
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