February 14, 2002
The Dow struggled to hold ground above the 10,000 resistance level, closing at 10,002 on normal trading volume. The Nasdaq 100 closed down 0.8%, continuing the down-trend.
Drug stocks hold Dow below 10,000
The Dow rose above the key 10,000 level, but weak drug stocks pulled the average back. (more)
Australia - ASX
After making a new high at 3444, the All Ords pulled to close at 3424 on low volume. The Slow Stochastic has crossed back below its signal line.
Fairfax net profit falls 53% [FXJ]
First-half net profit at John Fairfax is badly affected by the slump in advertising expenditure. (more)
Third-quarter profit falls 79% on settlement of a class action for faulty slate roofing in the US. (more)
Short-term: The Slow Stochastic has crossed below its signal line. Avoid further new entries.
Long-term: Wait for a correction on the secondary cycle.
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