March 15, 2002
These extracts from my daily
trading diary are intended to illustrate the techniques used in
short-term trading and should not be interpreted as investment
advice. Full terms and conditions can be found
of Use .
The Dow climbed to 10607 on very high volume that is often
associated with a triple-witching Friday.
The Nasdaq Composite index rallied to 1868.
The S&P 500 recovered to 1166 and is likely to
test resistance at 1170 - 1180 in the days
Adspend set to recover
UBS analyst predicts that advertising revenues will recover in
2002 - good news for media stocks which have been severely
affected by the advertising recession. (more)
Australia - ASX
The All Ords fell sharply during the last few minutes of
triple-witching hour and a further 12 points in
the 10 minutes after the close - the settlement period
when our stops cannot be activated!! The final close was
almost 1% down at 3357 on surprisingly normal volume. The MACD
and Slow Stochastic are below their signal lines.
Harvey Norman [HVN]
The retailer posted a half-year net profit of $68 million, up
almost 20%, with strong sales of entertainment
XTE is forming a solid Stage 1 base so keep an eye on those
Short-term: Avoid new positions until there are signs of a
Medium-term: No new entries until the All Ords makes
a new high.
Long-term: Wait to see if the S&P 500 breaks above its
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