jonbig04, Would you please tell me the name of the book you referred to? Thanks! I seldom read books, I bought some books months ago, never finished them. All my trading books don't exceed 10. I am surprised some people have dozens of books.
there is a book "Swing Trading" John D Markham, well written,short and to the point, explains methods of 5 different successful traders and one uses about 7 or 8 chart patterns with trendlines, some chartist somewhere said use trendlines like they were drawn with a crayon,which would support previous comments about waiting for confirmation when your stock touches a trendline
trendlines work,in this particular time in history,there is a lot of liquidation going on due to a crime yet be revealed in the hedgefund industry,for those having a hard time seeing the forest thru the trees,the money being moved is akin to the recent spring rain in the midwest,it always rains in the spring,it rains this much only once in every 7-10 yrs causing floods. It's hard to do but if your not comfy in this mrket sit on your hands, if you are in, trade with bigger timeframes because the amount of cash being moved won't stay within the closer trendlines