9/24/2009 1050 update: NQ, ES, 'BTD Index', 'SPY Gopher'

• wow, volatility is back...
• the NQZ09 contract i purchased around yesterday's close at 1722.50 i sold this morning around 9am at 1736.50...the high for the swing move up was 1736.75...my analysis suggested that the NQ could trade up to this area, and i think i also got a bit lucky as the swing high was 1 tick above my target...
• +16 NQ points/contract, 1 contract traded...
• because of this show of strength, i was willing to re-enter at a higher level then the last entry (1722.50), so i began bidding at 1727.50...
• i was filled at 1727.50 @ 936 am...however, the NQ had some other things on its mind and then traded just below the support area at 1711.75...i was bidding at 1708.50 and was afraid that i might not get filled, so i put in a market order and was filled right at 1711.75 (right at support)...
• a few minutes later, the NQ traded below support and down to 1704...
• i am currently long 2 contracts at an average price of 1719.63...
• i am bidding for a 3rd contract at 1693.50...
• i don't think i will be bidding for a 4th NQ contract for a discretionary swing trade below 1693.50...my 'BTD Index' systemic swing trading model will be looking to get long the NQ if the NDX closes below the lower bollinger band (in the low to mid 1680's today)...i hope this model generates an entry today...since june this model has generated 4 out of 4 winning trades:

• i believe this is just a bout of profit taking and the NQ and the ES will be making new swing highs in october...however, i still want to manage my open trade drawdown, so i will be more conservative with adding to the size of the NQ discretionary swing trading position...
• the NQZ09 has now traded down to 1696, and i am hoping for more weakness...i am bidding at 1693.50...
• my 'SPY Gopher' systemic swing trading model is also generating a pending long entry signal for today's close...i hope the NQ and the ES just continue to selloff today..
• the 1035 level on the ES looks like a strong support level, and i would be expecting a bounce there:

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...trade at your own risk***