Trading Diary
April 10, 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 rallied 1.7% to close at 10381 on strong volume, after positive news from automakers and retailers. A classic bottom reversal signal from William O'Neil.

The Nasdaq Composite index rose 1.4% to close at 1767, with gains by chip stocks.

The S&P 500 is still ranging between 1070 and 1180, closing up 1.1% at 1130.

Yahoo

Yahoo raises its outlook for next year. (more)

 

Disney

Theme parks raise earnings hopes. (more)

 

Australia - ASX

The All Ords closed up at 3327 on low volume. The MACD is still below its signal line.

Gold stocks

Local gold stocks soften as gold falls below US$ 300.(more)

Sectors: Gold

XGO is still in a strong up-trend, with no sign of an imminent reversal.

 

 

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

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