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Trading Diary
December 12, 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
Another inside day with the Dow closing at 9894 on strong volume. The S&P 500 closed largely unchanged while the Nasdaq closed slightly up at 1669.
 
Headed for a ranging market?
S&P's Paul Cherney says that the market has "a positive tone but is unable to put together a significant and uninterrupted up-trend" (more)
 
Australia - ASX
The All Ords closed down sharply at 3265 on strong volume, breaking below the 3300 support level. The first time in more than 2 months that the All Ords has closed below its 21-day moving average.
 

 
NAB cuts its' losses [NAB]
NAB sells part of loss-making US mortgage operations, in a "tough selling environment". (more)
 




Conclusion
Short-term: There is now uncertainty in both the US and Australian markets. Tighten up stop losses and wait for clear direction before making new entries.
Long-term trades: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
 
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