TRADE UPDATE: $WTTR

WTTR gapped through our stop near $15 on the open this morning on a downgrade by Citigroup, trading as low as $14.04 before recovering some of the losses. The is a perfect example of using some discretion when positions threaten stop areas, especially on the open and it is also a reason we try not to use hard stops. The stock has recovered somewhat and is currently trading near $15.60. We may ultimately get stopped out here, however, our use of some discretion may save us a few bucks. The possibility also exist that the stock recovers and we go on to make gains. As always, one day at a time and we will see how this position plays out.

-CJ

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