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Trading Diary
November 29, 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 halted its downward slide, closing up at 9823 on reasonable volume. The inside day still shows uncertainty.
 
Enron close to collapse
Collapse of the US energy giant could be the largest bankruptcy in 20 years. (more)
 
Australia - ASX
The All Ords closed down at 3267 on good volume. A sign that the trend is weakening.
 

 
 
Banks & Finance
The Banks & Finance index, on the other hand, has signaled the start of a down-trend (secondary cycle), breaking below the support level formed by the recent trough. A trend reversal on the secondary cycle is always signaled by a lower peak [LH] followed by a break [LL] below the previous trough.
 

 
Anglos adds cash
Anglo Gold adds a 20 cents per share cash dividend to its offer for Normandy. (more)
 




Conclusion
Stay on the sidelines. There is still a lot of uncertainty in the market.
Long-term trades: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
 
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