REDUCE OR TAKE PARTIAL PROFITS ON OIL SHORT POSITION $CL_F $USO $SCO $DWTI $UWTI $OIH $XLE $XOP $ERY $ERX $GUSH

Oil has fallen to $46.42 as of this writing.  USO is at $11.11.  Consider reducing or taking partial profits on a 15% tranche in the zone of $1o.82 to $11.13 in USO.  Consider continuing to hold the remaining position.  We still expect oil to go lower but in the very, very short-term there may be a bounce first.