Outstanding post!

Very much like what Jese Livermore said. He said that the big $ is made in the waiting, not the thinking. The waiting is waiting for things to be just right to make a trade, not waiting for things to go in your favour. He claimed that there might only be one or two occaisions a year that he would be in the market... and he was a full time speculator! I too find the market too attractive to sit on the sidelines, tho often when I have had a good % in cash waiting for the right move, I have done my best. Other advice he had (and other experts) is to cut losses quickly, 7-10%. This is tough too when you are convinced that your judgement is right. More often than not, letting my losses on a trade go over 10% was a mistake.

I found it funny that you talked about charts, but not believing in psychology in the market. I think charts are the mathematical expression of psychology. Overhead resistance is all the people that bought Kodiak at $4.70 -$5, who have chewed their nails over a 10-20% loss and will sell when they "get back to even on a risky investment". When a stock bottoms out on huge volume after going from $50 to $20, there is great supposrt at $20 because that is the point of reference for all those investors... a huge volume think of it as a $20 stock, and if it rises above that, why sell? Charts reflect the mood and psychology, the balance sheets reflect the fundamentals. I find Jr mining a challenge, because the mood is determined by NR's, and there are very few "fundamentals" to companies with no sales or earnings. But where there is risk, there is reward.

Now gonna post on the off topic for anyone willing to help me find a turn around stock.