March 4, 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
The Dow climbed more than 2% to close at 10586 on strong
volume, making a clear break above the high of early
January. The next major resistance level is 11500.
The Nasdaq Composite index and S&P 500 rose 3.1%
and 1.9% respectively, reversing the down-trend on
the short cycle.
The market brushed aside a profit warning from Oracle and
rallied strongly in the afternoon session. (more)
Australia - ASX
The All Ords reacted positively to the Friday
US markets, closing up at 3370 on strong volume.
The Slow Stochastic crossed to above its' signal line. The
reaction this morning has been positive, with the All
Ords up at 3386 at 11.00 a.m..
Woolies predicts double-digit growth [WOW]
Woolworths delivers a 24.3% rise in profits and forecasts
double-digit growth "for the forseeable
EStar Online Trading is to re-focus from unprofitable online
broking division. (more)
Short-term: Avoid new entries until the MACD joins
the Slow Stochastic above its signal line.
Medium-term: Wait for a new high on the All Ords
Long-term: Look for a secondary cycle reversal on the Nasdaq or
S&P 500 - if they break above their January highs.
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