April 02, 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 .
With Middle East tensions casting a shadow over the market, the
Dow slipped further to close at 10313 on regular
A slew of profit warnings from software companies caused the
Nasdaq Composite index to fall more than 3%, closing at
The S&P 500 retreated 0.85% to close at 1136.
Australia - ASX
The All Ords closed down at 3338 on normal volume. The MACD and
Slow Stochastic are below their signal lines.
The bond market is pricing in a 1.7% interest rate rise by
Newmont Mining sells its stake in Lihir,
ending hopes of a takeover bid. (more)
Sectors: Miscellaneous Industrials
A stock screen of XMI sectors turned up the following
candidates for my watchlist:
Melbourne IT (MLB)
SMS Management (SMX)
The screen used a 10-day and 150-day Moving Average Crossover
plus 150% Volume Spike.
Short-term: Avoid long until we see a
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.
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