Appearances are deceptive.

            --Aesop

Its tough to do anything but be disgusted with a day like today. Casual market participants will glance at the television and not even think twice about what looks to be mild but mixed action. If you tread the waters we do, you know that today was a very bloody battle with small caps, momentum and technology stocks suffering some painful blows. Despite selling down some positions yesterday and early today, it didn't do much to ease the pain as many stocks were taken behind the wood shed for several rounds of Who's your daddy. A bright spot to mention is that despite the wreckage the S&P managed to hold its 50 day moving average and is position for some sort of bounce.

On a day like today we find it important to reflect on the life of a battling market participant. It is a given that swimming in the financial seas can often challenge your fortitude and test your patience. The important thing to remember is that despite the turbulent times, a disciplined and flexible trader can handle both the good and the bad. Markets that turn poor will once again set up for opportunity and days like today will quickly become a distant memory. After a day such as this its important to pick yourself up, shake it off, and be prepared to go into battle again tomorrow. The only thing we can be most sure of about the stock market is that there will always be both good times and bad.

Have a good evening.

RevShark