Trading Diary
February 13, 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 climbed more than 1% to close at 9988 on reasonable volume, approaching the 10,000 resistance level. The Nasdaq 100 was also up more than 1%, at 1486, but the down-trend still continues.
 
Retail sales rise
A 1.2% rise in January retail sales (compared to an expected 0.3%) helps to boost the market. (more)
 
Australia - ASX
The All Ords pulled back from the 3425 resistance level, to close at 3415 on lower volume. The MACD and Slow Stochastic are still above their signal lines.
 

 
Commonwealth Bank [CBA]
Commonwealth announce a 6% rise in half-year earnings, marred by higher bad debt charges (Enron and Pasminco) and a weak investment market. (more)
 




Conclusion
 
Short-term: The MACD and Slow Stochastic are both 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. March, traditionally a poor month for stocks, is looming ahead of the Dow and Nasdaq .
 
 
Colin Twiggs
 
 
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