Comments from Monday, 4-25-05

Hi Students, and Guest's...

Moved too far, too fast...end up with the sideways channel for most of the day.

The Breakout (breakdown for Elliott) just before 3 o'clock looked like it would be a winner, and was, if you took the risk...but this is what I saw and it kept me from taking that trade...It was just 5-Minutes till 3 o'clock. making it very risky after being so bullish most of the day...I wanted to be a Contrarian and did not think it would move much further down, and did not have stochastics where I wanted it. The better trade was the 3:25 -- 3:30 reverse off of the blip.

If you make a mistake, find out why...

Don't dwell on your mistakes or setbacks, learn and grow from them, and then move on. Never let your mistakes defeat or discourage you. Be prepared to take risks.

Check out the chart: http://www.simple-as-123.net/charts/April25-05BullishMon.gif

Any thoughts?

Marsh

Thought for the day...

Always define your risk, and then you don't have to worry about it.