Aug 5

August 4th went well, the S&P followed my trendlines to almost exactly except that I thought the S&P would reach slightly higher highs.

I said I was looking to enter at 992, but when the market opened around 992, it showed signes of weakness and I did not follow through with my plan unfortunately. Stupid emotions!

Indian markets rallying, Japan markets down. S&P futures slowly trickling down, USD/JPY down, as of this moment. Yesterday looked weak, I will be looking to short S&P for a quick pullback and long FAS with possible averaging down. Also watching BAC (its a monster).

Looks like theres a lot of selling pressure, people are taking their profits.