Trading Diary
March 25, 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 closed down 1.4% at 10281 on low volume, below the 10300 support level. Still in an intermediate up-trend.
The Nasdaq Composite index closed down more than 2% at 1812. The intermediate trend is down.

The S&P 500 closed down 1.4% at 1131. The index is ranging between 1070 and 1180.

Tech stocks and banks lead the retreat

Concerns about further earnings disappointments forced tech and banking stocks lower, with only gold edging higher. (more)

Australia - ASX

The All Ords closed down at 3373 on low volume. The MACD and Slow Stochastic are below their signal lines.

Gold

Rising gold prices are leading gold stocks to new highs.(more)

Sectors: Gold

XGO is rising steeply, above its 30-week weighted moving average, while 3-year relative strength (price ratio) has crossed into positive territory. Short-term trades if price rises above 13.15.

 

Conclusion

Short-term: Avoid new positions.

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.

Colin Twiggs

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