[DbPhoenix]

Edit: Incidentally, you posted something about bias. If one looks at market internals and the behavior of small, mid, and largecaps, it's difficult not to acquire a bias. However, it is absolutely essential that one remember that the market can be irrational for far longer than one might believe. Therefore, one must focus on what's there, not on what one expects to be there or wishes to be there.

The "smart" money is not any smarter than anybody else. There's just more of it. So when the elephants are swaying back and forth or wandering in a circle or taking a nap, one must be sensitive to that and not make more of it than it is. And if one gets tired of waiting for the mouse and decides to hang it up ten minutes before the big stampede that begins as soon as they've left the room, that's okay too. One can't trade well if he's so bored that his eyes are beginning to bleed.