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Trading Diary
March 6, 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
An inside day on the Dow, but with a strong close at 10574 on reasonable volume. The Nasdaq Composite index closed up more than 1% at 1890.

Fed sees signs of recovery
The Federal Reserve Beige Book report sees economic activity increasing in 9 of 12 districts. (more)

Australia - ASX
The All Ords closed up strongly at 3397 on reasonable volume, but the MACD is still below its' signal line.
Chaikin Money Flow above zero reveals substantial accumulation in the last quarter of 2001, while we have seen moredistribution in 2002.



Telstra raises dividend [TLS]
Telstra raised its first-half dividend to 11 cents (from 8 cents) while net profits were down 20% and trading conditions are "flat".(more)

HSBC/St George? [SGB]
Takeover speculation increases as the restrictions on individual shareholdings in St George expire in 4 months.(more)





Conclusion
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.


Colin Twiggs


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