GAME FACE - 7/23/07

We had a S2 for today. Not unexpected given the size of the sell-off. People were remarking how we've been unable to connect with more than 3 down days in a row. They were right.

O/N, I shorted 1545.25 & 1547.50. The market opened at 1551. I knew I was wrong. I covered at 1550.50.

I felt that the market was likely to test to the level of 1555. This breakout pattern on S2 supported that notion. So, I bid 1550.50 for 2 ems. The market acted heavy and weakish. When it dropped down to 1447.5, I stopped myself out.

WRONG!

It later bounced to to 1555.

I am struggling with my stops. I am struggling with my game plan. I don't have my game face on right now. I don't feel adequately prepared.

Questions:
1. Should I NEVER reverse a trade?
2. Should I NEVER watch the RT ticker?
3. Should I stick with my 10 pt hard stop?
4. How can I get my game face on?