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
The Dow had another strong day, closing above the
10,000 resistance level, at 10,145 on reasonable
volume - up almost 1.8%. If the Dow breaks
above the 10,300 resistance level the secondary rally is
likely to continue.
The Nasdaq 100 soared 3.8% to close at 1,407 but is
still in a secondary cycle down-trend.
better-than-expected sales, General Motors raised sales
and earnings estimates for the quarter and the full
GM is a lead indicator of the economy -
"What is good for GM is good for America".
Australia - ASX
After an early rally the All Ords retreated to close amost
unchanged at 3368 on low volume. The MACD and Slow
Stochastic are both below their signal lines.
Back from the brink
Banks agree to an extension of
time for Austar to repay/rollover $400 million of
overdue debt. (more)
Newmont Mining CFO
says that they will either quit their 9.7%
stake in Lihir Gold or buy
Short-term: Avoid new entries until there are positive
signals from the MACD and Slow Stochastic (20,3,3).
Long-term: Wait for the US uncertainty to clear.
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