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
April 12, 2002
The Dow formed an inside day, closing slightly up at 10190 on
The Nasdaq Composite index closed up 1.85 at 1756 on an inside
day, but is still in a down-trend.
The S&P 500 is ranging between 1070 and 1180,
closing up at 1111 on an inside day.
The SEC announces that it has closed its investigation of IBM
"without action". (more)
The All Ords closed down at 3308 on rising volume. The
MACD is still below its signal line.
Flight Centre [FLT]
Following the successful acquisition of corporate travel
businee ITG, Flight Centre is on the lookout for further
Sectors: Tourism & Leisure
XTU is in a Stage 2 up-trend, having recently made a
new high and shows improving relative strength (price ratio).
Note that FLT is classified as Retail - maybe there is some
justification for GICS.
Short-term: The market is in a down-trend -
Medium-term: The All Ords completed a double top at the end of
March and can be expected to retreat to +/- 3240. Avoid new
Long-term: Wait for the Nasdaq or S&P 500 to break above
their January highs.
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