March 21, 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 closed down slightly at 10479 on normal volume.
The Nasdaq Composite index rallied almost 2% to close at 1868.
The S&P 500 rose slightly to 1153.
All closes were near to the daily Highs - a good sign for
General Electric is criticized over its short-term debt levels.
Australia - ASX
The All Ords closed down sharply at 3384 on normal volume.
The MACD is still below its signal line and continues to form
Telstra headed for clash with ACCC?
In September 2001 the ACCC put Telstra on notice to address
pricing issues with its broadband competitors. The matter has
still not been resolved.(more)
XTE has formed a Stage 1 base, with the 30-week weighted
moving average sloping upwards, while relative strength
has leveled out. Wait for relative strength to rise above its
Short-term: Avoid new positions until MACD crosses above its
Medium-term: Wait for a new high on the All Ords.
Long-term: Wait for the Nasdaq or S&P 500 to break
above their January highs.
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