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Trading Diary
November 27, 2001

This is my daily 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 down by more than 1% at 9872 on strong volume, following poor consumer confidence figures. A definite distribution day. Tech stocks faired only slightly better with the Nasdaq down to 1609.
 
Consumer Confidence
Consumer confidence recorded a further sharp fall in November as unemployment rises. (more)
 
The 'R' word
It's now official, economists pronounce that the US economy entered a recession in March. (more)
 
Australia  (ASX)
The All Ords continues to trend upwards, closing at 3291 on good volume.
 

 
Coles [CML]
Coles Myer closes up more than 5% on promises of a profit surge. (more)
Relative strength is still rather weak.
 

 
 




Conclusion
Take a breather today, while the Australian markets react to the drop in the US. Tighten up stops and avoid new trades.
Long-term trades: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
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