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From all of us at Incredible Charts,
We wish our readers peace and goodwill during the festive season and prosperity in the year ahead.
 
Traders Diary will resume on January 2nd.
 
 

Trading Diary
December 21, 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 50 points at 10035 on very high volume, the inside day showing uncertainty. The Nasdaq also showed uncertainty, closing up 1% after a 4% drop yesterday.
 
Consumer confidence up
A University of Michigan survey shows consumer confidence up more than 5% compared to November. (more)
 
Australia - ASX
The All Ords closed up at 3314 on strong volume, while the bearish signal on the MACD continues.
 

 
 
 




Conclusion
Short-term: The Dow is still showing uncertainty and the All Ords trend is showing weakness. Stay out of the market until there is clarity. 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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