10/6/2009 10:30 am update: NQ, 'BTD Index'

NQ Discretionary Swing Trade:

• i have been holding 3 NQZ09 contracts for a discretionary swing trade...these 3 contracts were picked up during last weeks selloff...
• my original offers on the NQZ09 were 1695.00, 1705.00 and 1716.50...
• i changed the first two, and was filled at: 1692.50 and 1703.00...
• first exit: +7.33 NQZ09 points/contract
• second exit: +17.83 NQZ09 points/contract...
• total for the day: +12.58 NQZ09/contract, 2 contracts traded...
• i am offering my last discretionary swing contract at 1716.50...
• i will be looking to buy 1 contract back...at what level remains to be seen though...
• NQ finally showing some rs compared to ES...

'BTD Index':

• currently, 'BTD Index' is generating an exit signal (cyan bar) for today's 4pm close...the price exit for this model is target based, and we are currently trading above the target (red midline: around 1699 on the NDX), but we still have to close above the target for an official exit signal to be generated...
• if the target based exit signal is generated, then the position will have been held for 3 days since the entry signal was generated...this is very similar to the prior 3 entry signals, which were held for 3-4 days before the target exit was hit...these previous entry signals also led to new swing highs on the NQZ09...

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***