NewB's trading journal

6/5 Bought UNM Sept 15 Put @2.16. Reason, nearly touching upper downtrend line, along with what I feel is an imminent market correction.
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What indications do you have that there is an imminent correction ?
 
We are at at strong resistance levels on the daily SP and DOW charts. On the weekly charts we are still in a strong downtrend. Based on the state of our economy I don't think we are going to be able to push past these levels. If we do penetrate these resistance levels I will be taking long positions, but I think it is very unlikely. Keep in mind I am a neophyte at trading though.
 
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