November 28, 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
The Dow fell more than 1%, to 9711, on strong volume, while
the Nasdaq closed down more than 3% at 1557. This may be
the end of the bear rally, but we have to wait for
the next short-cycle rally to confirm this.
The Fed detects weakness
The Fed's beige book report highlights weakness in many
sectors of the US economy. (more)
Australia - ASX
The All Ords traded down throughout the day and then
spiked up to close at 3291, the same as Tuesday. The
up-trend is still intact, for the moment.
Macquarie Bank [MBL]
Macquarie has traded with a
over the past few
weeks. Surges in volume on the last two corrections warn us
to expect a
in a downward
Wait for the Australian markets to react to developments
in the US. Tighten up
and avoid new trades.
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