Hmmm... Big picture as in S&P likely to bounce at year lows (it did)..., The 2 next Dow levels 13,500 and 13,700.., September historically being weak into October.., Late October into year end good time to be long.., Next year being and election year and almost NEVER a down Year.., etc The point in swing trading is markets tend to trend at least a few days... Yes there are very choppy that irritate but not often. You could be fighting a 5 minute while the weekly/daily are against you though I doubt a good daytrader would.
You might as well ask yourself why bother swing trading, when you can ride the longer-term trends, such as oil or gold the past 5 years or so? Even less decision-making, less aggravation, you can check your position once a month or so, etc. When you've answered that question for yourself, then just shift the time frames and you'll see the point others are trying to make.
Retire, I was playing devil's advocate. I don't think you or anyone else knows where the market is going next, particularly given the situation with the financial sector and global exposure to subprime which, despite the Bernanke/Bush dog-and-pony show Friday, is still with us. Assumptions and predictions are a fool's game unless you're really committed to your positions for the long haul, and are willing to take tremendous drawdowns in your account. I'm a daytrader, I will always be a daytrader, that's what works for me, and better still, it's fun! Good luck.
The reason people day trade is simple, it offers the highest potential return out of all forms of trading for the smaller accoutn holder. The market moves a greater distance than its low to high for the day therefore the lower your trasnactional time frame the greater potential for profit until liquidity issues negate this advantage. Whether one can capture thsi extra movement consistently is where the real question lies.