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Trading Diary
December 18, 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 up more than 1% at 9998, again running into resistance at the 10000 level.
 
Motorola cuts jobs
More job cuts from Motorola and GE. (more)
 
Australia - ASX
Buyers returned to the market, with the All Ords closing at 3264 on reasonable volume. The bearish divergence on the MACD continues to signal weakness.
 

 
Banks cautious on Austar debt [AUN]
Austar has until 31 December to roll over its $400 million of debt facilities. (more)
 
Banks & Finance
The Detrended Price Oscillator signals that the Banks and Finance index is strengthening. Watch for a break above 8900 with strong volume.
 

 
 




Conclusion
Short-term: The Dow and All Ords are showing weakness. Tighten up on stop losses and avoid new entries.
Long-term trades: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
 
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