April 09, 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 at 10208 on stronger volume, continuing its
The Nasdaq Composite index corrected sharply, closing down 2.4%
The S&P 500 closed weaker at 1117, continuing its
Concerns about falling demand for technology
products cause an 8% fall in Cisco stock. (more)
Australia - ASX
The All Ords broke through support to close down more than
1% at 3315 on reasonable volume. Chaikin Money
Flow continues to signal distribution, while the MACD
is still below its signal line.
Murdoch is negotiating to secure control of troubled Kirch pay
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.
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