What comes down must go up!

Didn't have a good short recently. Shorted at 13430 and 13544. Both went up further. Then I knew I didn't short at resistant, which I should be. Waited for 2 days, when it hit the yellow line.
I queued at 13648, purposely lower by 2 points, in case I don't get it. but it hit 13647 and dives down. Sick! And I didn't dare to chase it! I would have make some (big money) if I have chased. The low last night was 13370. 277 points difference!
But I was happy that this time I charted it right.
Anyway, I covered back at 13445, thought that was the support, and it dives down further. Sigh!
Saw the low at 13370, and it didn't go lower. My mentor told me yesterday, if it dives down at such a steep gradient, it will come up at such gradient. I didn't short it again and went to sleep. It can't go down straight like that.
This morning woke up, and saw the rebound (technically). Phew! 13427! The high was 13456! He was right! Anyway, there are always opportunities in the market. Bullets back, and I am ready to open a new position next Monday. Hehheh........

What goes up must come down!

Shorted mini Dow March 08 twice again today.
First shorted at 13321 and covered back at 13307.
Second short shorted at 13325, quite near resistant, but it broke out and hit 13364.
What my mentor said was true.
"In a bear market, the price you shorted, will come back. The price you long, will be gone forever!"
Just sit tight. And managed to close at 13311. Phew!

Mini Dow Futures US$5 Electronics March 2008 - 19th Dec 2007

My first trade in Futures - Mini Dow Futures last night.
Understand my mentor's strategy more after this trade.
"Must wait patiently for the trend to form and enter at the right point."
I charted on the 5 min chart, found the big trend within these few days.
It overshot the first and second yellow resistant lines, hit the third (top) one and came down.
I shorted at 13376 pts.
I waited at 13345 pts, the third low point (sorry the line was not there).
It hit there and bounced up.
Then it broke down the support line.
Almost shorted it at 13330 when it came up from low of 13319 pts.
But to play safe, as it was too far from my initial short of 13376, I gave it a miss.
It really hit 13330 and plunged down to 13268. What a waste! Hahaha....
As this was my first trade, I was still quite satisfied with it.
Waiting for it to hit the yellow resistant lines again and short it there. Pretty soon.......
Patience........