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Trading Diary
March 19, 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 at Terms of Use .




USA
The Dow continues to range between 10300 and 10700, closing up 0.5% at 10635 on low volume.
The Nasdaq Composite index closed up slightly at 1880.
The S&P 500 is again testing resistance at 1170 - 1180, the level of its January peak, closing at 1170.

HP-Compaq
Hewlett-Packard CEO, Carly Fiorina, claims a "slim but sufficient" majority in favor of the merger with Compaq. (more)

Australia - ASX
The All Ords closed up slightly at 3406 on normal volume. The Slow Stochastic crossed above its signal line.



Macquarie focuses on costs [MBL]
Macquarie is set to tackle costs in a subdued investment banking market.(more)

Sectors: Banks & Finance
XBF continues its impressive rally with rising relative strength and rising 30-week weighted moving average. 




Conclusion
Short-term: Avoid new positions until MACD turns 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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