As the market proceeded to move up for the past week, I did not enter into a put position on QQQQ. On the other hand, I also did not enter into a call position on BAC. Both of these went completely against my analysis. The choice to take advantage of contingency orders is definitely worth the time it takes to make the calculations and set the order.
It is also worth the time to reset ones stops every day. Unfortunately, I did not do that last night. As a result, the stop I updated to the night before last persisted for today's down turn in C and as a result I was stopped out at a loss of $10 on top of commissions and fees. This will result in a lost of ~21%. The good news is that this is keeps me in my 25% loss tolerance.
On other fronts, CPLP has been moving up. This means for me that the puts I sold to be assigned at $7.50 have been started to lose value after gaining value over the previous week. Although a slower strategy, selling cash-secured puts looks to be a promising revenue stream. That is my opinion, you can take it or leave it. Disclaimer: See bottom of page. http://investorsopinion.blogspot.com
BAC - Bank of America Corp.
C - Citigroup, Inc.
CPLP - Capital Product Partners, LP
QQQQ - Powershares QQQ Trust ETF
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