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Trading Diary
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 Terms of Use .




USA
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 Street
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)
 
Macquarie mauled [MBL]
Stocks in Macquarie Bank fell more than 10% as earnings for the 2002 fiscal year fail to meet market expectations. (more)
 




Conclusion
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 the secondary cycle .
 
 
Colin Twiggs
 
 
P.S. We are trying out new software. Please report if you experience any problems with the trading diary.
 
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