What This Blog Is About

This blog is my trading journal. It contains my reasons for entering a trade and if I decide to put the trade on, my entry and exit strategy. My trade results will be recorded on my Yahoo Group site. A link to that site is provided below.
Do Not attempt to trade real money based on anything you see or read on this blog. It is intended only as a learning tool for my readers and myself.
If you are interested in learning to trade the Forex and Options markets, I encourage you to open a “demo” or “practice” account, use this account to follow my trading plans. Remember, Do Not use real money or trade in a real account based on the information in this blog.
All times given are in Hololulu Standard Time (HST) unless otherwise stated. I will sometimes use Greenwich Mean Time (GMT). To convert to your local time, click on the link below located under "World Time Zones".
New: Beginning February 25, 2007 I will edit each post and add the trade results.
If you have any questions or comments, send an email to Mrpipman@yahoo.com or use the "comments" link following each posting.

Sunday, September 7, 2008

Friday’s Market Action

Friday’s recovery in Dow was not unexpected. After the big drop the previous day it is not surprising that investors did some bargain hunting. Over all the technicals remain weak on all three time frames, monthly, weekly and daily. This implies that previous lows could be tested. However, given the strength of Friday’s turn around, a rally during the early part of next week cannot be ruled out. If a counter cycle rally does occur and the technicals remain weak, an opportunity to buy put options may present itself.

Bob
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