Purush,

You are right on your observation. It is necessary to be patient and disciplined in order to succeed in the market, similar to any other profession. When the market is trending up, if you are patient and buy stocks as they are breaking out and hold it for a while you'll do good. As you might have noticed that I recommended SNS, SMSI and RGR few weeks ago. I should have waited for a pullback on SNS and RGR but I did not. I exited out of RGR at break-even and took a loss on SNS. SMSI had the perfect set-up and it is doing good so far.

Get the book "How I made 2 Million in Stock market" and try to understand what he is trying to tell.

FF,

I think 8 is a minor resistance and 12 is a major resistance......I guess we'll find out.