Yes and the fact that it is a countertrend trade puts the odds seriously against you. Looking at bucking the trend trades they tend to fail as you are rowing upstream and fighting the trend. What caught my eye was that short term bottoming pattern that was repeating again. Thought it was good for a few days up. But typically it did bounce up to the the falling 20ema and bounced back down even faster after a quick tag. And then it broke below that flat bottom pattern again. That was it for me as I don't hold losing positions and like to get out quickly when in the red. Wrong is wrong and I don't need to satisfy my ego by holding on and refusing to accept reality. But that pattern has not broken down as yet either and would be typical to bounce back again. With so many markets selling off I was hard up for a trade I guess. Have just been sticking to the SPX bull and bear ETFs but that was getting boring as they have been whipsawing around too. Notice how quiet it gets on the message boards with a broad market selloff and very few making money and examining their recent losses. Tends to quiet traders down considerably with nothing much bullish to talk about.