December 4, 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 closed up more than 1% at 9893, on reasonable
volume. The strength of this short-term rally will give an
indication of the state of the intermediate rally of the
past 2 months. The Nasdaq rose 4% to close at 1634, near to
its 2 month high.
Cisco stocks rise on "cautious optimism". (more)
Australia - ASX
The All Ords closed lower at 3263 on
reasonable volume. The
, often used by short-term
traders to signal market direction, has turned down at
[S], confirming the decision to avoid new long positions.
Have a strategy and stick to it
Good advice from Roger Montgomery and Daryl Guppy.
The direction of the Dow and the All Ords are both uncertain.
Short-term trades: Avoid new entries and tighten up
on remaining positions.
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