February 18, 2002
The US market was closed Monday for the President's Day holiday. On Friday the Dow had retreated 1% to close at 9903 while the Nasdaq 100 closed down 2.5% at 1436.
Disney loses some of its magic
Stock of the media and entertainment giant has declined 24% over the last 12 months. (more)
Australia - ASX
The All Ords has retreated below the 3425 resistance level, closing down at 3413 on lower volume. The Slow Stochastic is still below its signal line.
Reserve Bank: "Worst is behind us"
Deputy Governor, Glenn Stevens is optimistic that inflation will remain under control and robust growth will return. (more)
Sigma/Australian Pharmaceutical Industries [SIG]
Merger talks cause both stocks to rise by more than 10%. (more)
Short-term: The Slow Stochastic is still below its signal line. Avoid further new entries.
Long-term: Wait for a correction on the secondary cycle.
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