Friday, September 18, 2009

9/18/2009 4pm update


  • NQZ09 did eventually hit my 1726.50 target...
  • it is now forming an ascending triangle...i re-entered NQZ09 long at 1722.50...
  • not sure if i will sell this lot just below the 1730 resistance area during the sunday night session or in the mid to high 1730's during the monday day session...
  • now that NQ has been basing for a few days and has worked off some of its short term overbought condition, i am looking for NQ to break above this base and continue its run higher...if it doesn't, then i will be accumulating more NQ as it pulls back, with the intention of selling it higher sometime within the next few weeks...
  • good week discretionary swing trading (NQ, FAS), systemic trading ('IDX OU'), and even discretionary daytrading at vcm (+1 R)...
  • no systemic swing trading entries for today's close...
  • hope everyone has a good weekend...
Disclosure: Long NQZ09.

***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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