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
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.
Hewlett-Packard CEO, Carly Fiorina, claims a "slim but
sufficient" majority in favor of the merger with Compaq.
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
Sectors: Banks & Finance
XBF continues its impressive rally with rising relative
strength and rising 30-week weighted moving
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.
P.S. We are trying out new Email software. Please report
if you experience any problems with the trading diary.
Please forward this to your friends and colleagues.
Access the Trading Diary Archives.