Thursday, October 15, 2009

10/15/2009 4:15 pm update: ES, NQ, FAS

  • ES getting extended on the daily chart...new daily high and continuing to trade above its upper trend line...volume decreasing, ATR volatility also decreasing...FAS not making a new high with the ES...to me, all signs of short term topping behavior...
  • NQ continues to show rw...
  • GOOG eps tonight...
  • if there is a large gap up in the NQ tomorrow morning, i will consider shorting it for a quick scalp to the downside...i am still bullish on the NQ into the end of the year...
  • flat the NQ...
  • pulling my NQ 1741.50 bid...
  • now only bidding at NQ 1733.50...
  • no NQ offers right now...
  • the recent swing high in the FAS is 94.54...if the FAS gaps above 94, i will consider selling my last 2 FAS lots into that gap instead of limit 95.00 and limit 96.50...
Disclosure: Long FAS.

***remember this is an illustration of what i am trading and my thinking...it is not a recommendation for you or anyone else to buy or sell this or any other security...trade at your own risk ***

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