10/2/2009 11:00 am update

• this NQZ09 chart shows my entry and exit history...the entry and exit portion of the chart has gotten a bit messy today...since i trade multiple strategies on the NQ, there are multiple entries and exits which are not related to the NQ discretionary swing trade which i normally write about in these updates...also tradestation uses a FIFO accounting method when exiting trades, so the entries and exits are even more out of sync with how i account for my systemic and discretionary trades in the NQ...
• discretionary swing trading wise, i added another NQZ09 contract this morning at 1664.75...this position now has 1 contract entries at: 1713.50 (wed 9/30), 1677.25 (thurs 10/1) and 1664.75 (fri 10/2), leading to an average price of 1685.17...
• the NQ is showing some rs compared to the ES this morning...the financials are slightly green (XLF, FAS)...both the ES and the NQ filled their gaps, with the NQ even rising more than 0.50% above the gap fill...both have pulled in some...if we are to see further upside today, i would like to see the ES and the NQ trade in the upper half of today's range, and not test their opening levels...
• yesterday i mentioned how the 'BTD Index' chart and its ATR volatility reading may be suggesting a swing bottom in the current area of today's low in the NQ:

• prior to last nights entry signal for the 'BTD Index' model, the last 3 entry signals occurred on the day of or the day before the NDX swing low, which then went on to make new swing highs...today's low is a bit below yesterday's low...if the most recent pattern is to be continued here, then the NDX should not trade below today's low before the next swing high...maintaining the NQ gap fill, and continuing on up by the end of the day would be a good step in this direction...

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***