Home Site Map About Us Privacy Policy Advertise (pdf) Contact Us
 
 
sitesearch
 


Trading Diary
April 08, 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 continues it short-term down trend, closing at 10249 on good volume.
The Nasdaq Composite index completed a closing price reversal day , closing up at 1785 - a possible trough on the intermediate cycle.
The S&P 500 is still ranging between 1070 and 1180, closing up slightly at 1125.

Blue Monday
IBM falls 10% on warning of lower first-quarter sales and earnings. (more)
 
Compaq more upbeat
HP's merger partner issues an upbeat forecast, fuelling a late recovery. (more)

Australia - ASX
The All Ords closed unchanged at 3340 on low volume. The low close in relation to the daily range signals a possible reversal, while Chaikin Money Flow (below zero for most of March) confirms that distribution is taking place.
The MACD is still below its signal line.



Coles Myer [CML]
Coles has fallen 8% since it announced the phasing out of its discount card.(more)

Newcrest [NCM]
Currency and gold hedging losses cause a 90% drop in third-quarter earnings. (more)
 




Conclusion

Short-term: Avoid long.
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


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.




Back Issues
Click here to access the Trading Diary Archives.



Perfect Your Market Timing
Learn how to manage your market risk.





The weekly Trading Diary offers fundamental analysis of the
economy and technical analysis of major market indices,
gold, crude oil and forex.
The monthly What's New newsletter covers new articles
on Trading and the Economy, as well as new software updates.




Back Issues
Access the Trading Diary Archives.





 
Top of Page