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Trading Diary
February 12, 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, showing uncertainty, and closing down slightly at 9863 on low volume. The Nasdaq 100 was also down, at 1464.
 
More telecom woes
Nortel Networks stock fell after warning that it may not meet its first-quarter sales targets. (more)
 
Australia - ASX
The All Ords closed up at 3423 on normal volume, after reaching a new intra-day high of 3428. Expect further resistance around this level. The MACD has crossed to above its signal line.
 

 
Wesfarmers delivers [WES]
The WA-based conglomerate reported a 61% increase in half year earnings. (more)
 




Conclusion
 
Short-term: The MACD and Slow Stochastic have both crossed to above their signal lines. Take entries on short-term oscillator signals. Keep stop-losses tight as it is late in the secondary cycle rally.
Long-term: Wait for a correction on the secondary cycle .
 
 
Colin Twiggs
 
 
P.S. We are trying out new Email software. Please report if you experience any problems with the trading diary.
 
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