UCO closed 6 cents above the first suggested stop of 7.50 yesterday & is currently indicated to gap just below that level. However, with crude trying to claw its way back from the overnight losses, I plan to wait until 10:00 ET before stopping out if UCO is still trading below 7.50.

Discretionary modification of stops or one’s trading plan may work for some & not others. As an active trader with the luxury of being in front of a computer most of the trading session, I will occasionally wait until the initial opening order imbalances moderate on a position if there is amply reason to believe that a gap down is likely to be reversed, as may or may not be the case with crude oil & UCO today. As always, trade according to your own unique trading plan & style.