Keeping a Long Term View in Mind is Important.  Either the Bull or the Bear is in charge at any given time.  The following chart vividly demonstrates the volatility in the stock market over the last 10 years.  The dramatic collapse since last October is highlighted in Gold.  The pungent question of the moment is where is this falling knife going to bottom out?

10 Year, Monthly - SPY

The Bear is Back with a Vengence!  "Just be on the right side of the trade." - Shadow Trader
3M, Daily - Feb. 10 - The long term Bear Potato was threatened but fought off the attack.
5D, 30m. - Feb. 10 - The 30 minute chart gave up the Bull and converted to Bear with the Treasury announcement of a new & more extensive bank bailout without offering any specifics.  The resulted in a broad selloff secondary to all the uncertainties.  Internals were devastated.

10D, 60m. - Feb. 10 - The fall was so rapid that confirmation by the 60 minute timeframe almost made no difference and was technically slow to occur.  Obviously we do have a new Bear Potato confirmed on the Hourly.

2D, 5m. - Feb. 10 - Trending day down with no buyers in sight.  DOW was down 375 on very weak internals.  A mild rally occurred at the close.  This action would qualify as a successful "JA" play.  There was a lot of opportunity to profit assuming your being on the "right side of the trade."

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