This is the time that discipline must be exercised. Perhaps nothing is more frustrating to the inexperienced trader than getting whipsawed out of a profitable position. However, as I said in the last post, this is the price to be paid to catch the next big trend or to be able to stay in a strong trend. This is not the time to abandon a good trading system, but rather to accept a few small losses while waiting patiently for the trend to reassert itself.
The VLE closed just shy of 4% below the 2/1/08 swing high and the 25dema has only fallen one day. Therefore, we will maintain the long position until a sell signal is generated, which very well could be tomorrow if the VLE closes lower.
The Cabot System remains short the QQQQ from 51.27.
Discipline - Discipline - Discpline.
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