SRS update, GLD Puts, OSG exit

Move the stop up to 86.69 on SRS. The real estate stocks are getting hit pretty hard, so this inverse ETF is off to a good start. I will continue to provide updated stop loss points.

I bought July 87 puts for 2.25 on GLD and will track this trade on the blog.

I exited the July 85 OSG puts for 3.50 which is 50% loss. The trade got profitable quickly, but then made a recent sharp rally to the stop loss point on entry. One strategy on a profitable trade is to put a breakeven stop loss after some predetermined % gain. I probably don't do this often enough, but it is always easy in retrospect to say that when a winner turns to a loser. But if you get stopped out in a sharp flucuation before the stock goes your way again, you don't look as smart.

Pete