Tuesday, August 16, 2011
Trade Update: GLD
If you went short with us on GLD you expected to get stopped out at $172.34. Novice investors may wonder why this didn't happen today with the shares of GLD at $173.25. You can see why on the chart.
Notice that GLD opened at $172.50. So, it a gaped up through the stop. Meaning that our stop was missed. This is no biggie and happens from time to time. Right now we are going to move the stop up to $174.34.
Sell full GLD @ $169.67
Stop at 174.34