The Market Really Bounced!

As i mentioned from my previous post, the market is ready to bounce and it did today.

If that is for real, i don't know, let's see in the coming trading days.

But as now the way the market is acting, looks like it's the start of the Santa rally.

 

 

 

 

Start of the bounce?

The way market action last Friday seems the start of the bounce?

I guess so, by looking at the chart you can notice that the participants jumped in aggressively and bought the market between 11:00 am. and 12:00 noon ET.

I presume it might continue to struggle for a while but the Santa rally is in the offing.

It will consolidate within a week or so and might rally from thereon.

Let's see come Monday's trading if the sentiments look positive.

 

And Apple (APPL) stock is now being sold daily by the profiteers.

A sign that the $1,000.00 per share valuation is now impossible to reach?

The way it looks from this daily chart, it reached already the maximum price.

Time to get out while there still some profit?

 

 

 

 

And facebook (FB) is now a buy?

Seems so as this daily chart is showing.

What's Happening With The Market?

Is the market plunging?

That's what these charts says so!

Unless Santa will rescue the market and pour/print some money to buy the market, there will be no sign of relief.

Bears are on a roll and the bulls are covering in darkness.

Time for the 'dip' investors to look for bargains, if they still have some 'parked' money.

Let's see in the days or weeks ahead if the market will run out (of sells) and time for the buyers to step in.

But i guess this market correction will stay for a while possibly weeks/months before it can get back its traction.

Let's just all be patient.

 

 

 

Just to have something to post?

Not doing any trading for the market is not giving some opportunities or ideas how to participate.

The market is acting inappropriate (these days?) and its hard to make a conclusive evidence to make a sound judgment how we can react or take action with its bipolar? (as Warren Buffet sometimes referred to?) behavior.

When the market (re)acts that way, so does most of the participants?

I don't know, but when the market is acting like this, the best way for the trader is to stay idle and let the market do what it wants to do.

Have patience and wait until the market settles or when the market becomes rationale.

For today's market, it's still suffering a disorder and (was) not yet diagnosed when or what kind of cure/pill to be given to.

I guess the market needs a tranquilizer to take a breather or the form of recreational medicine (like that one that was ratified/legalized by some states?).

As can be seen from this 5-min. chart (unless you are an HFT's), if you are trading alone as a discretionary, you cannot trade this in comfort? or it will be hard to participate.

I don't know but this is how i can characterized this market as of the moment.

This is also a lesson to learn for the future, since the market as we all know is always acting in an irrational manner.

No doubt about that, we cannot expect the market to act efficiently.

That's why we as traders needs to learn from it and work on our self too.

Monday's Trade Setup

The market was on a slow movement today partly because of the holiday (Veteran's Day), most participants are on vacation.

For the trade today, the market seems it will continue its downside momentum when it opened high only to lose its fire and made a flat consolidation below the settlement price.

Opening for an opportunity to buy within the ma's crossover.

The exit is pointed above (with an arrow).

Patience needs to exercise with this kind of trade.

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'?

Thursday's Trade Setup

The market continues to slide down.

The sellers outnumber the buyers and the market is not showing any sign of relief.

For today's market trade, a sell (short) in the open and cover at the close is the best way to make money.

An easy day today to make money trading the market.