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