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I had 10 open positions in live accounts, but am now moving back down to 5. Better to be a little conservative right now. I have also tested strategies with various numbers of positions (everything else being equal) and higher was definitely more profitable. I have no exit conditions, but...

Of course he's going to say this if he's an equity fund manager. It gets the little guys back in the game. Either way, there's not a lot to support the market going higher or for that matter, lower. Eventually, it will return to the mean.

I use CoolTrade and they have 300+ indicators. If that's not enough, you can go to their community board and request additional indicators. They're pretty good about adding them.

If you're using IB, you can also use CoolTrade, which is all automated. Much easier than TradeStation or Ninja Trader. CoolTrade Fully Automated Stock Trading Software

Check out CoolTrade also. Great articl on how to choose the right automated trading software. http://www.cool-trade.com/education/choosesoftware.asp

I agree with Ivanovich. Watch what the brokerage firms and investment banks are saying to buy (or sell). What is their motivation? Are they trying to run up the price so they can dump their shares? Beware of advice.