This is oriented to some of the newer traders here. Notice on the 5 year oil chart posted below in the oil section of the overnite report all the horizontal lines. I know most of you see how many trend lines Steve and Matt, and some of the other more experienced traders in here, use in their presentations. After trading for nearly 40 years I can tell you without a doubt, that learning to use both diagonal and horizontal lines is the single best tool you can use.

Most of you have seen the great results that Steve and Matt have gotten, even on real short term (ie 1, 3, and 5 minute) charts using a simple trend line. Yesterdays breakdown on the SPX was just one example. Don't get caught up in using a million indicators. The secret to it is don't get lazy and just sit there staring at your screens. Be constantly drawing them. You'll be amazed at the different trades you start to see and the best thing about it is that they work on any time frame, for intra-day trades to long term. I did a series of live classes to a large daytrading group a number of years ago and in one of them just using a plain chart and trend lines on a one minute chart, had some pretty serious results. I think I've still got it, if anyone would like a copy, just pm me and I'll send it over.