And in the end, another coin flip

This is what gets me about trading; you get to these points and it comes down to a coin flip. You wait on the setup, it comes down to a coin flip. I been waiting on this resistance here to take a short. But you know, would anyone out there be surprised if they came out on JPM and gapped it on up there a couple dollars above resistance, and just run it all day and act crazy with it. Sometimes the thing I believe I've learned best is to identify important points in the market. And then get on the wrong side of them For the record I am short a bit here, as I've been waiting on this set up to manifest.

Edited by viccarter, 14 July 2010 - 05:11 PM.

I also like to keep a little simple index of market leaders, GS, AMZN, GOOG, JPM, AAPL, IBM and simple arithmetic index of prices and chart it. Hoping to get some resistance here...

I personally set up today with some stop buys on "SDS" to protect me on the downside right at the low of the day, so if we sold off 50% of my portfolio would be short. It never went back to the low, so I will need to reset my target tomorrow morning ( Each day with the price a little lower ). QLD was strong today, but again at resistance, but will keep riding it higher until it turns. Barry