Patience Required

It is at times like these that a trader wonders if the only way to make money is to keep buying breakouts, but as surely as one gives in to that urge a significant reversal will occur.  It is only a matter of when.  Looking back at the initial rally from the 2009 low, we can see that the Qs pulled back to the 12 week ema several times providing new entry opportunities.  When that will happen now is anyone's guess, but it will happen.