A mini ES scalper's journal

9-22-2010
The run of NQ from 1950 to 1990 was quick without any significant retracement. All my short was stopped out at last thursday AH with loss. I've entered short again near 1990. There were just too many internal inconsistency between equity, bod, currency. Besides, there are some major negative divergence on equity indices, for instance, VIX has been creeping up and didn't make new low when the indices made new high on Monday and yesterday.

This was very much like March/April run steadily grinding up.
 
10-3-2010
The price action looked like a topping process for last week's trading sessions. It was mainly bounded with relative narrow range with AH and open thrusts. I traded very light on the short side between 2010 and 1990 (NQ) for the past week.
Based on COT, commercials has suddenly turned bearish (from extreme net long to net short) on NQ since Sept 21's report. NQ has been leading this rally until last week. It is possible that since NQ/ES spread is getting too big, it has attracted short NQ/long ES paired trades. Euro also looked like a rising wedge.
I covered one NQ at 1970 (shorted at 2000). I still have another NQ short and I want to stay a little longer.
 
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