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
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 stock slides on concerns over financial engineering of
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.
Woolworths reported a 17.4% jump in third-quarter sales and
confirm that they are on track for earnings growth of 20% or
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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