February 6, 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
The Dow formed an inside day, signaling
uncertainty, as it fell to 9653 on
reasonable volume. The Nasdaq 100 dropped a further 1%
to close at 1445.
Cisco beats the
Cisco systems reported 2nd quarter
earnings ahead of analysts estimates. Net income was
$660 million, compared to $874 million for the same
quarter last year. (more)
Australia - ASX
The All Ords closed down at 3369 on
strong volume, with the MACD and 20-Day Slow
Stochastic both below their signal lines.
Ansett in doubt
The rescue falters as the number of jobs
saved is cut to 3000 and disputes over Sydney
terminal access continue. (more)
Stocks in Macquarie Bank fell more
than 10% as earnings for the 2002 fiscal
year fail to meet market expectations.
Short-term: The All Ords reflects the uncertainty in the US
market. Wait for an improvement.
Long-term: Take a look at a 3 year chart
of the Dow or the Nasdaq. You will see why I
continue with my mantra: Wait for a correction on
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