Trading Diary
February 11,
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 almost 1.5% at
9887 on light volume. The Nasdaq 100 closed up 1.75%
at 1477, but no sign of a break in the down-trend
yet.
DuPont upgraded
to 'outperform'
Salomon Smith Barney upgrades DuPont on news that
it is considering options to hive off of its textiles and
interiors business. (more)
Australia - ASX
The All Ords closed at 3419 on light
volume, after equalling the previous high of 3425. Expect
further resistance at this level. The
MACD is still below its signal line.
Reserve Bank to keep rates
low
Whilst generally optimistic about the
local economy, the threat of a weakening Japanese
economy outweighs the risk of higher
inflation. (more)
Conclusion
Short-term: Wait for the MACD and Slow Stochastic to cross
above their signal lines.
Long-term: Wait for a correction on
the
secondary cycle .
Colin Twiggs
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