EIA Report

Well I'll admit, I forgot about this one, it is usually Wednesday, but because of the Monday holiday it was today. Either way, it works out well for those who took the oil short of several days ago.

Oil inventories were up more then expected,



Released on 12/29/2011 11:00:00 AM For wk12/23, 2011

	Prior	Actual
Crude oil inventories (weekly change)	-10.6 M barrels	3.9 M barrels
Gasoline (weekly change)	-0.4 M barrels	-0.7 M barrels
Distillates (weekly change)	-2.4 M barrels	1.2 M barrels

Here' the reaction...

 And here's the short on USO which was triggered on a breakdown below the Trend Channel and on the break down of the head fake move around $38.80.

3C 15 min.

If we see anything unusual, I'll let you know, but for now here are the stops for those rising USO short as a swing trade and those who want a tighter stop, both should guarantee at least a small profit.

 Swing trade stop currently at $38.35

A tighter stop at $38.20