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.

Tuesday, September 2, 2008

Today Market Action September 2, 2008

Today Market Action September 2, 2008

We had a wild ride today as investors staged a relief rally when news that hurricane Gustav spared the Gulf Energy Infrastructure and New Orleans. However the rally was short lived. This was foretold by the technicals when, last Friday, the NDX (NASDQ 100) broke pivotal support (see my previous post). Based on today’s price action it seems likely the market will turn lower within the next few days.

If you entered your order for Abbott Lab puts, they should have filled at $1.10. Abbott is giving you another opportunity to enter the position. If you missed the entry today, place the order I outlined in yesterdays article before tomorrow’s open.

Good Luck,

Bob
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