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Trading Diary
January 10, 2002

These extracts from my daily stock trading diary are 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
Two hours before the close, the Dow had recovered from a dip during early trading, The Nasdaq was up 0.7%.
 
Merrill Lynch
Merrill are to cut 16% of their staff and take a restructuring charge of $2.2 billion in closing unprofitable operations. (more)
 
Australia - ASX
The All Ords closed down at 3352 on stronger volume. For the past 9 days the index has been trading in a narrow range between 3350 and 3390. Increasing volume over the last 3 days indicates that a downside breakout is most likely.
 

 
Asia
Weak Asian markets pull down stocks. (more)
 




Conclusion
Short-term: Not a good time to enter the market. Wait for the signal.
Long-term trades: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
 
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