8/13/2009 morning update

• though i feel this up move by the NQ is getting a bit long in the tooth, i am still playing NQ to the long side...
• this is an aggressive move for me: based on this morning's pre-market strength in the NQU09, and break above the top of the base, i moved my swing entry up from limit 1603.50 to limit 1621.50...
• the limit 1621.50 was hit, and NQU09 continued to sell off to 1610...
• i have a sell limit 1646.50 for the first lot....
• i have a buy limit 1603.50 for a second lot...if this lot gets filled, then i have a sell limit 1627.50 for the second lot...
• adding another lot around 1612.50 looks good in hindsight (just above a pivot from friday/monday/tuesday), but i was hesitant to stack additional lots so close together (1621.50, 1612.50, 1603.50), so i decided to just add a second lot at 1603.50...perhaps just moving the first lot up from 1603.50 to 1612.50 would have allowed me to be bit more aggressive on the re-entry...re-entering at 1621.50 is very aggressive for me, and feels a bit uncomfortable...learning process...
• i am not sure if the aggressiveness i feel today is based strictly on a proper re-analysis of the NQ, or the fear of missing a move up in the NQ, or perhaps a bit of both...i will be thinking alot about this today...
• this is my current NQ discretionary swing trading plan...
• heading out of state later in the day for a little r&r...i will still be trading later today and tomorrow....

Disclosure: Long NQU09.

***remember this is an illustration of what i am trading and my thinking...my trading plan may change without notice...this is not a recommendation for you or anyone else, to buy or sell this or any other security...***