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Trading Diary
December 6, 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 slightly at 10097 after trading in a narrow range for the day, on reasonable volume. The Dow, S&P 500 and Nasdaq are all showing uncertainty but are still in an up-trend.
 
Job Cuts Record
Job cuts in 2001 stand at 1.8 million, 3 times the total for last year. (more)
 
Australia - ASX
The All Ords has run into resistance at around 3300, retreating from a morning rally to close at 3293 on strong volume. Sellers are back in control but the up-trend remains intact.
 

 
Australia in a strong position
RBA governor, Ian McFarland, feels that Australia is in a strong position to withstand the effects of the global downturn. (more)
 
Emotion, The Investors Enemy
A top US fund manager speaks on managing your emotions. (more)
 




Conclusion
Short-term: Continue to look for entry signals where the stop loss can be set within a 2% limit.
Long-term trades: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
 
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