RIM Rolls Out

In reading through financial commentary over the past few weeks, I've noticed that many traders have noted how "hard" the market is and how frustrating it is to trade. They sweat, agonize, gnash, get giddy, get down, get up, wring hands and finally end up the week exhausted, elated, wrung-out or confused. In short, the market takes them on an emotional roller coaster.

If you're of that ilk, it's unlikely your trading career will last very long. Your body simply cannot take that kind of emotional turmoil on a daily basis, and you'll get burnt out long before your method gives way.

Instead, you probably need to detach yourself from the ups and downs of your equity curve and simply be content with executing your strategy. As I've said in the past, a good day for me is when I execute my plan. A bad day is when I don't. Gains and losses are simply a byproduct of that execution (or lack thereof!), and I'm content in the knowledge that if I stick to my plan I'll make money given a long enough time frame and enough at-bats.

Don't get me wrong, though. I find the market annoying at times, while at other times I'm happy with how things are. But even in my most emotional of times, I'd like to think I stray not more than one or two standard deviations away from "neutral." Any more than that and the market's in control, not me. And that's a tough and dangerous way to trade.

Today, charts for the Nasdaq Composite, William Lyon Homes (WLS - commentary - Cramer's Take), Quidel (QDEL - commentary - Cramer's Take), iShares Dow Jones US Utilities Sector Index Fund (IDU - commentary - Cramer's Take), Research In Motion (RIMM - commentary - Cramer's Take) and Microsoft (MSFT - commentary - Cramer's Take).

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Charts produced by TC2000, which is a registered trademark of Worden Brothers Inc.

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And that is the final word from Wisteria Lane, where after getting hooked on "Desperate Housewives," I'm now finding this year's episodes a little dull. It'll be interesting to see if I'm a good barometer and if the show turns out to be a one-year wonder.

Please note that due to factors including low market capitalization and/or insufficient public float, we consider Quidel to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.

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Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes a daily technical analysis column for RealMoney.com and also produces a daily premium product for TheStreet.com called The Chartman's Top Stocks -- click here for a free two-week trial. While Gary cannot provide investment advice or recommendations, he appreciates your feedback; click here to send him an email.