The past week's run-up in highly leveraged oil names like $EPE (EP Energy Corp stock) was a bit confusing to us. No production cuts were announced by OPEC and we met the oil rise with much skepticism. We shorted many oil-related stocks yesterday and swung them overnight. One of them was $EPE.
As expected, with negative Kuwait oil production news and Goldman Sach's bearish report out today saying the recent commodity rise should fizzle, all oil names tanked today. We covered $EPE into weakness.
Net Profit: $7,266.