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Trading Diary
February 1, 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 fell slightly to 9907 on normal volume, while the Nasdaq 100 closed down 1.4% at 1528.
 
Gold climbs
Gold futures climbed to a two week high on the back of market concerns about stocks. (more)
 
TMP gets monstered
Stocks of TMP Worldwide, operator of Monster.com, fell on concerns about accounting practices. (more)
 
Australia - ASX
The All Ords retreated to close at 3386 on strong volume. The 20-Day Slow Stochastic dipped to below its signal line, signaling that conditions are not right for further new entries.
 

 
Market "edgy"
Traders take profits before the weekend. (more)
 




Conclusion
Short-term: The MACD is still above its signal line but the 20-Day Slow Stochastic has crossed below. Avoid new trades until there is clear direction.
 
Long-term: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
 
P.S. We are trying out new software. Please report if you experience any display problems with the trading diary.
 
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