December 7, 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
The Dow closed down at 10049 on reasonable volume,
reacting to high job cut figures, but holding above the
10000 support level (resistance has now become
). The S&P 500 and
Nasdaq have also retreated but are still in an up-trend.
How high can the rally go?
More evidence of a recovery is needed to sustain
the present rally. (more)
Australia - ASX
The All Ords broke through resistance around 3300
to close at 3313 on weaker volume. The up-trend continues.
News Corporation [NCP]
NewsCorp stock has risen more than 9% over the last two days on
reports of a planned takeover of German media giant, Kirche
The Banks and Finance Index continues to weaken, with Relative
on the decline.
Short-term: Continue to look for entry signals where
can be set within a 2%
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