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

Thursday, December 8, 2011

The market tumbled today due to negative reports from Europe.

Lots of selling pressure were recorded and was continuously till the close.

Don't know what's going to happen tomorrow, but we'll monitor the overnight session to find out if the downtrend will continue.

Lots of traders/investors are waiting for the Santa Claus rally, and the signal is still far fetch or not clear.
The market was not able to get off from the slump and continues its downtrend.

A not so convincing sentiments from the participants.

Trade did not work out, stop got hit, lost 25 points...
Bought YM at 12065 with stop at 12040...

Market starts to stabilize...


A pattern like this takes time to develop/stabilize because of high volatility.

The market drops like a bomb in the open because of the ECB news.

We'll just watch from the sidelines whatever develops and just study the market for now.

Futures markets showing some weakness from this overnight session.

Hitting 3000 plus views from this blog was a humbling experience, though this is my nth blog that I kept currently.

Other blogs that I created also with regards to the market were deactivated.

As you go along sleeping and breathing with the market helps you educate how the market works.

Though there are more things that I need to know about the market, but it's a process and will take time.

Patience and perseverance in participating with the market is that counts.

Anyway, let's see how the market reacts today.

I don't see any big news that might impact the market except those that are coming from Europe.