Hi Wayne,

I carry cash positions w/ out stops and occasionally very small leveraged positions with out stops -- yesterday's price action shows why. I have learned after many years to just go along w/ those higher time frame patterns 25-day and up cuz they are already a reflection of the underlying fundamentals. It really is just a game where you get rewarded for following the rules -- listening to the market.

I also learned this as a young man. If you are going to gamble don't do it at the casino do it w/ individuals who have a gambling problem cuz they will always bet w/ their emotions so you always have an edge. It is the same thing w/ the markets, most people get all emotional about it and try to out guess the market -- comical behavior from the standpoint of a trained observer. It's just money.