10/13/2009 8:30 pm update: NQ

• my offer of 1738.50 was filled at 1740.00 on the open of the overnight session...
• this trade: +8.50 NQ points/contract, 1 contract closed...
• historical trades on the above chart are being displayed correctly...
• no current bids or offers...
• an upside surprise from INTC led to a 13+ point NQ gap up from the 4:15 close to the 4:30 open...
• i will be watching how INTC opens tomorrow as well as the NQ...i have read some studies which suggest that large INTC gaps during earnings season tend to mark short to intermediate term pivots and reversals in the NQ/ES...this pivot reversal did not occur in july though...
• in any case, i will be watching to see if the post market INTC and the NQ gaps are able to hold up into tomorrow's open...if they do, then i will be on the lookout for a potential gap fill in INTC and the NQ....
• like i mentioned before, i am flat the NQ, and have no offers or bids open....

Disclosure: no position in the securities mentioned.

***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 ***

10/13/2009 9:45 am update: NQ

• changed my offer on the NQZ09 from 1746.50 to 1738.50...
• if the NQ did not break down yesterday afternoon, i would have kept that offer level...
• NQ showing some rs to the ES this am...
• INTC earnings post close...this catalyst could keep the markets range bound today...
• bidding at 1713.50 and at 1693.50 for the NQZ09...
• yesterdays decision to not place a stop below the 1730ish pivot for the 1731.50 entry did not work out well...i could have taken the stop, and then re-entered in the low 1720's...i would probably have sold it in the high 1720's, and have looked to buy it back in the low 1720's during the overnight session...opportunity lost...
• perhaps i was too impatient, too fearful of missing a potential move up...something for me to keep in mind, especially the next time the NQ gets to a level that has me flat, with no offers and no bids...

Disclosure: Long NQZ09.

***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**