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Trading Diary
November 2, 2001

This is my daily short-term stock trading diary. It is intended to illustrate the techniques used in short-term share trading and should not be interpreted as investment advice. Full terms and conditions can be found at Terms of Use .




USA
The Dow closed slightly up at 9323, still within the 9000 to 9600 trading range.
 
Unemployment rose to 5.4% in October from 4.8% in September. Most economists are still predicting a recession. (more)
 
Microsoft [MSFT]
The US Justice department has finally reached a settlement with Microsoft, keeping Microsoft intact but allowing other software developers access to Windows source code.

Australia  (ASX)
The All Ords slipped slightly but remains above the 21-day moving average.
 
The All Ords slipped slightly but remains above the 21-day moving 
 average

 
Westpac [WBC]
Westpac reported good results apart from a worrying increase in bad debt provisions. (more)




Conclusion
An anaesthetist friend describes her job as "99% boredom 1% panic". The market can be like that as well - you just have to prepare well for the "1%". 
This is a period of uncertainty, hold on to existing long positions but tighten up on Stop Losses
 
Colin Twiggs
 


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