March 8, 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 formed a third inside day closing up at down
at 10572 on reasonable volume.
The Nasdaq Composite index had a stronger day, closing up
2.5% at 1929. A rise above 2100 will signal the start of a
secondary cycle up-trend.
The S&P 500 has closed at 1164, near to its January high.
KMart puts up the
The bankrupt retailer is to close 284 stores and cut 22,000
Australia - ASX
The All Ords closed softer at 3428 on low volume. The
MACD and Slow Stochastic are above their signal
South African gold producer, Harmony, now has control of Hill
Short-term: The MACD and the Slow Stochastic are
above their signal lines. Take new positions but keep
tight stops as we can expect a retest of support levels in the
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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