As you can see from the link for the DOW vs DOG chart in my previous post my trade has not moved in my favor in the last two days.
The DOW has rallied over 380 points over the past two days forcing me to put in a stop limit order at 64.15 for the DOG -(4.5)% from the initial 67.17 price. As it stands today at 66.40 my stop loss will be exectued in another 2-3% to the downside.
Trading this market certainly isnt easy, Tuesday Merril Lynch the Nations(Worlds) 2nd Largest Investment Bank had a firesale on mortgage related assets and an announced but unexpected 9 Billion Dollar additional quarterly loss. How did the DOW react? By rallying over 200 points.
In the next two trading days the only thing that will come as encouraging to my trade is a continuation in the rise of Oil...
Mood: Cautious
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