- i am using this morning's rally to lighten up the NQZ09 discretionary swing position...
- the losses are painful, but capital preservation is a must...
- i still envision new swing highs in the NQ and the ES perhaps by the end of 2009, and an even higher liklihood by the end of Q1 2010...
- however, due to the persistent downtrend of the past 4 days, the intermediate term may have changed...
- at the close of trading yesterday, the discretionary swing trading position was long 5 contracts at avg 1728.00...
- first trade: exited at 1687.50: -40.50 NQ points/contract...
- second trade: exited at 1696.50: -31.50 NQ points/contract...
- i will be looking to add more contracts at lower levels, however i am not sure what those levels are yet...
- offering 1 contract out at the following levels: 1707.50, 1716.50, 1725.00
***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***
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