After 30 years of managing accounts, hedge funds and mutual funds I can tell you that the biggest mistakes I ever made were forcing trades because I felt the need to “do something”. A forced trade is a sure loser.

Rick L.

For a newer trader like myself, I have a hard time seperating an opportunity from a bull/bear flag. The past 18 months I’ve missed multiple dips because the common idea was that the trade was ‘not set up’ yet. I don’t see how this dip is any different from the last eight that we have see since march ‘08. But I guess that is something you learn overtime…

Thank you Quint for these tapes. I am learning a lot.

I have a question for you. I was looking at the chart of MO. MO looked like a good possible short if it closed below 19.60. It had broken down below its 25 day moving average and 19.60 would be below its 50 day moving average. The low I was looking at was on 12/31/2009.