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Trading Diary
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 found at Terms of Use .




USA
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 narrow range over the past few weeks. Surges in volume on the last two corrections warn us to expect a breakout in a downward direction.
 

 




Conclusion
Wait for the Australian markets to react to developments 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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