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Trading Diary
January 29, 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 plummeted 2.5% to close at 9618 on strong volume, while the Nasdaq 100 closed down 2.91% at 1519.
 
The Fed
No further rate cuts expected after earlier optimistic comments by Alan Greenspan. (more)
 
Market concerned about accounting
Concerns over the quality of reported earnings have affected market optimism, even General Electric may be on the list. (more)
 
Australia - ASX
The All Ords continued to climb, closing at 3393, despite a fall-off in volume and a continued bearish divergence on the MACD.
 

 
Banks back in favor
Bank stocks rise as investors seek safety. (more)
 




Conclusion
Short-term: Wait for the market to react to the Dow.
Long-term trades: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
 
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