Trading Diary
April 15, 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 fell almost 1% to close at 10093 on normal volume. The up-trend on the secondary cycle is still intact.
The Nasdaq Composite index closed slightly lower at 1753. The index is testing the 1700 support level.

The S&P 500 formed an outside day, closing down at 1102 - still ranging between 1070 and 1180.

GE down

GE stock slides on concerns over financial engineering of results. (more)

 

Australia - ASX

The All Ords closed up at 3320 on low volume, but is still in a down-trend. The MACD is still below its signal line.

Woolies [WOW]

Woolworths reported a 17.4% jump in third-quarter sales and confirm that they are on track for earnings growth of 20% or higher. (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

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