As I am typing this, oil is still up 2% on the front month, but it’s a far cry from this morning, when it was up almost twice that much.

I took some nasty losses in shorts such as XOP and DBC, as well as some individual energy positions, and with hindsight it would have been better to have had no stop prices at all.

I am pleased, however, that I didn’t sell a single share of my ERY long, and in fact I bought more shares, nearly doubling my position, early today at good prices. I’ve got a stop loss price of 11.50 (see tint), and the open price was the lowest we got today. It’s been fighting back every since.

(Click on image to enlarge)