April 04, 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 formed an inside day, closing slightly up at
10235 on strong volume.
The Nasdaq Composite index also managed a slight rise to close
The S&P 500 closed almost unchanged at 1126.
Bristol Myers damp squib
Bristol Myers warns that this years profit could be almost half
of last year due to slowing drug sales and inventory cuts.
The All Ords closed at 3323, below recent support levels, on
strong volume. The MACD and Slow Stochastic are below
their signal lines.
Reserve Bank Governor, Ian Macfarlane says to expect rates to
rise over the next 12 months.(more)
Looksmart aims to diversify its revenue base with a deal
with Yahoo. (more)
Short-term: The All Ords is trending down - avoid new entries.
Medium-term: The All Ords has broken below its recent trading
range - avoid new entries.
Long-term: Wait for the Nasdaq or S&P 500 to break
above their January highs.
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