James "Rev Shark" DePorre is the author of Invest Like a Shark: How a Deaf Guy With No Job and Limited Capital Made a Fortune Investing in the Stock Market. He is founder and CEO of Shark Asset Management, an investment management firm, and he also operates sharkinvesting.com, an interactive online community that serves and educates active investors.Expand

DePorre holds business and law degrees from the University of Michigan, is a member of the Michigan Bar Association and a former attorney and CPA. He lives in Anna Maria Island, Fla., and Conover, N.C., with his wife and three children. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks.Collapse

The market has become even more oversold, so a short-term bounce looks likely.
The potential for a spike is there, but we need something to spark it.
I'm playing the bounce and taking on a few trades.
Bear arguments are obvious, so why not accept that and wait for something to shift?
The market could not generate an oversold bounce and closed near the lows.
Dip-buying hasn't worked this quarter, and the Fed is no longer acting as a backstop.
I'm looking at several Facebook-related plays while the market dances to the news beat.
When dealing with bounces within a downtrend, be very clear about your time frame and trading style.
To limit the damage, trade as though the downtrend will continue indefinitely.
The time to buy stocks is when the market is trending up and it isn't now.

Columnist Conversation / Market Updates

| May 16, 2012
| 4:04 PM EDT
U.S. stocks again gave up early gains and finished Wednesday lower....
| May 16, 2012
| 2:58 PM EDT
Stocks are hovering around flat, but the credit market is trading very poorly. Bid-wanteds in cash are rolling in, especially in the go-go financial names....

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