Trading Diary
January 28,
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
The Dow closed up slightly at 9865 on
an inside day with very light volume, indicating
uncertainty amongst buyers and sellers. The Nasdaq 100
closed up slightly at 1564.
Amex profits down 56% in the
fourth quarter
Undermined by slowing business travel and
corporate spending, American Express expects the economy to
"remain weak throughout 2002". (more)
Australia - ASX
No trading on the ASX on Monday
- Australia Day long weekend. The All Ords encountered
selling pressure on Friday but still managed to close up at
3383.
Woodside bid to become a global
player [WPL]
Shell supports Woodside Petroleum's
bid for oil and gas resources in the Middle East,
Europe and the Carribean. (more)
Conclusion
Short-term: Wait for a buy signal.
Long-term trades: Wait for a correction on
the
secondary cycle.
Colin Twiggs
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