December 17, 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 at 9891 on reasonable
volume. The Nasdaq closed up 2% and S&P 500 up 1%.
We now have to wait for the completion of another
short-term cycle before we will know whether the
indicator is confirmed.
Amgen buys Immunex
Amgen buys its biotech rival to gain control of rheumatoid
arthritis drug, Enbrel. (more)
Australia - ASX
The All Ords closed almost unchanged at 3236, on
weak volume. Sellers still control the market.
Retail sales are looking good. (more)
One of the most reliable long-term indicators, the
specifically designed to signal the start of a bull market.
Signals are taken when the indicator turns up while
below zero. Over the past year the Coppock has
headed South and is now approaching the zero line. Keep
an eye on this over the next few months.
Short-term: Both markets are showing weakness. Tighten
up your stop
and avoid new entries.
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