Thoughts....
I didn't have much time tonight to do an extensive update, but I posted a few Index Charts I'm focused on. Despite the nasty sticks across the board today, I still think it's nothing more than a normal reaction in an intermediate term bull market. Thus, the bulk of my trades will continue to be on the long side (i.e. High Volume Breakouts & Longs at Support) with tight stops. It's important to remember that the markets main objective is to destroy everyone. If we trade with a calm, clear and collected attitude, we will save ourselves from financial ruin and stay in the game. In other words, stay patient and non-anticipatory and the journey will continue. All warfare is based on deception. Hence, when able to attack, we must seem unable; when using our forces, we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near. Hold out baits to entice the enemy. Feign disorder, and crush him.
