'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Saturday, November 10, 2012

Friday's Market Action

The market barely risen from its hole last Friday's action.

But at least it had shown a sign of relief that it can bounce back from the grave.

For Friday's trade, a buy in the open and sell below R1 (resistance) is the most appropriate spot to make a profit as shown from this 5-min. chart.



Steve Job's Apple (AAPL) also risen from the dead when it bounced back last Friday's session.


And Facebook (FB) stock needs to face reality that it has a  hard time convincing investors to move the stock from its previous IPO price of $40.00 down to its present price of $19.18. I guess its needs fresh ideas to convince this social networking users in a more productive and appropriate manner rather than using it for 'fun'?