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Why trade sim if you are already trading live?

You know it has reversed when it has reversed, and no this is not a smart ass reply.

Try it with a live a/c before you come to any conclusions.

And 170 trades per day = a ton of slippage and profits lost to spreads.

Its not possible to make 4% daily with tight stops, you will be stopped out a lot and it will cost you.

Every heard of arbitrage?

I'm neither long nor short cos I'm not an ET piker and I don't trade direction. I make money as long as there is volatility. Those were purely my views on the Italian situation, there is no need to get so defensive.

Italy is nothing like Greece, I would say that the market is overreacting.

Looks like you already have the answer to your own question.

Yeah there should be some resistance at 1296 maybe, but that isn't significant imo, and I didn't mean to say that the market will go straight up to 1345 from here, just saying that shorting now is high risk and low reward.

With my limited chart reading skills I can see that there isn't any significant resistance between SPX 1285 and 1345. Shorting is pretty risky right now.

A pullback is a pullback until it turns into a reversal. The same thing for breakouts, an upside breakout is valid until well... its invalidated by yet more selling, or the selling could simply be a retracement. "Trend following" or whatever it is, is no different from fading a trend that...

What signal on the weekly? It was still a bear flag breakout at 3pm est, but of course that has now been invalidated by the 30 mins or so of buying into the close. Its obvious that various entity/entities had a vested interest in doing this. I've been trading professionally for several years...

I think this is what you call manipulation. :D

I thought this should be obvious. Commissions, slippage and spreads are what causes most retail traders to fail, they have a 50% chance of being right when they make a bet on direction but these things cut their "odds" to under 50% in the long run. Only traders with a real edge can beat these odds.

Just as I thought... its a short squeeze, possibly by some fundies who are trying to make their portfolios look less shitty, aug was a pretty brutal month.

Common sense or logic doesn't apply to markets. I don't trade direction but I got a feeling this short squeeze isn't quite over yet.

Its too late to cut losses after a reversal because trends/reversals cannot be predicted, we only know them in hindsight i.e its not possible to see a trend/reversal until after the fact.

The market will interpret news (or the lack of it) in whichever way it wants to, and yes I know what you are thinking now, unfortunately this is what makes the market so unpredictable.

News does not matter when it comes to the stock market.