Great article. You hit everything on the head. Once exception though on the "short-term trading" aspect using indicators. GS, MER, and the big buck COs who backtest all these "indicators" are missing out on one key element. I'm sure they know about it, but I don't think there's any way they're going to back-test it. The markets are abstract and too efficient IMO.
Not to blow my own horn ( what a weird double entendre) but this new article is pretty good. http://tradingmarkets.com/.site/options/how_to/articles/-77152.cfm
http://www.tradingmarkets.com/authors/Kurt_Eckhardt I found all your articles to be excellent, good value. A pity you stopped writing them.