Trade Update: OIL

You may be wondering why OIL has dropped below our stop price, but we are not out of the trade. It's not a bad question, the answer can be seen by looking at the 5 day chart in the 15 minute time period. Notice that on Monday the stock closed near 85 and on Tuesday morning it opend at 82.75 only to trade lower all day. Our stop price was at 83.45 which fit nicely into the gap between the prior days close and yesterdays open. What that means is that our stop was never hit. That gap
down blew right past our stop. OIL is trading at 82.22 up .90. Lets see if we can squeeze little more out but move the stop to todays low 81.89.