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Trading Diary
February 27, 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 gave up most of its early gains to close almost unchanged at 10127 on reasonable volume.
The Nasdaq 100 fell 1.6% to close at 1378.
 
Alan Greenspan
The Federal Reserve chairman speaks of a "subdued recovery" in testimony to the House Financial Services Committee. (more)
 
Consumer confidence falls
Consumer confidence falls to 94.1 from 97.8 in January, in the wake of Enron and corporate accounting concerns. 
 
Australia - ASX
The All Ords closed down at 3359 on strong volume. The MACD and Slow Stochastic are still below their signal lines.
 

 
Ansett deal off
Lindsay Fox and Solomon Lew withdraw their offer for the failed airline. (more)
 
AMP [AMP]
Dispelling rumors that it is looking for acquisitions, AMP warns of a tough year ahead.(more)
 
ERG: further losses [ERG]
ERG warns of further write-offs that could extend first-half losses to as much as $195 million. (more)
 




Conclusion
 
Short-term: Avoid new entries until there are positive signals from the MACD and Slow Stochastic.
Long-term: Wait for the US uncertainty to clear.
 
 
Colin Twiggs
 
 
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