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MDabbles: Daily Log and Journal for 10/01/09

Reading Assignments:

Pre-market:

Last night the candle market scans told the story: 5 to 1 bearish candles to bullish. Futures this AM down, Asian markets down and Europe futures down.

Looks like one of those days to start out October. I will be looking to add only on bargains. Yesterday and alert went off for the DOW at 9630, which is the 2.9% benchmark off the high recorded not long ago. Since it set off at approximately 9:56 AM, it has recovered to a close of 9712.

My chart several posts ago of the market behavior on quarter ends suggest we may in for several down days — we’ll just have to see.

For what it’s worth, the Monster employment index dipped 2 points in September to 119 indicating that employers remain cautious in hiring. In a positive, the report said demand for blue collar workers is firming.

Likely will not be doing market journal today. I may cut out for the mountains to shoot some falls.