It falls then it bounces back

(for details pls visit www.OptionPundit.net)

So Dow fell, touched 12550 range, then bounces back just like a classic text book example. Goog which at one time was down nearly $17 to 480.4 is back up by $8 to $488, RIMM which was down near $13 is back up and down merely $3, GS which was down by roughly $8 is trading above waters, AAPL was down $8 but now down only half of that, CME which was down over $30 has recovered $10, OIH has also recovered 50% of it’s loss, what’s all that? This is called wash-n-rinse (as per traditional theory), for today at least as of this writing. It however depends on the time frame and we may realize tomorrow, that it was just a minor bounce before other sell-off begins.

So is it a real bounce that all the bulls were waiting for? Trade carefully. The big game is on.

Profitable trading, OP


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