why today's plunge, page-72

Simple answer yes. But I do believe there may be some merit in TA in relation to potential short term movements (so long as nothing fundamental becomes known that destroys that). Personally then I beleive you shouldn't bother, the time is better spent keeping up to date with the progress of companies and looking for the next investment opportunity. And yes I don't beleive there is such a thing as a highly successful long term swing/day trader, and even successful ones are few and far between. I'm happy to be proven wrong if someone can point me at them. On the other hand see the article I recently post for the case for highly successful long term value investors: http://www4.gsb.columbia.edu/null?&exclusive=filemgr.download&file_id=522