ES and NQ:
- major market indices continue to melt up...10th day up in a row for the ES and the NQ...
- ESZ09 now trading above its upper trend line (black circle) that connects the May, June and August highs...
- NQZ09 has not traded down to my limit orders since tuesday...
- i am currently bidding for the NQZ09 at limit 1703.50, though this could change at any time...
- i am considering entering a short on the NQZ09 if it continues up and then gaps up strongly the following morning...
- this melt up is begining to remind me of how tech/internet stocks traded in the fall of 1998 through the spring of 2000 period...my trading dna was imprinted during that period...
FAS:
- FAS now trading above the upper trendline that connects the May and August highs...
- sold all of my FAS holdings in the IRA and in the two custodial accounts...some of it i let go of yesterday in the 82's (red circle under upper trend line)...the rest of it went out the door in the 89's (red circle above the upper trendline) around 10 am this morning...
- the most recent sells for the IRA were purchased in the 50's and 60's; the recent sells in the custodial accounts were purchased in the 40's and 50's many months ago...
- i will be looking to re-enter long FAS...currently bidding for some at 81.50 and at 71.50 in all three accounts...
***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...***
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