May 27, 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 .
US markets were closed for the Memorial Day
BW Top 50
Business Week's Top 50, headed
by stalwart Johnson & Johnson, is missing a few of the former
The primary trend is up, secondary trend -
Chaikin Money Flow is fluctuating around zero,
Slow Stochastic (20,3,3) has moved back below
its signal line.
The dollar strengthened to 55.67 US cents.
Placer Dome bids $ 2 billion for AurionGold
The Vancouver-based gold miner is offering
17.5 shares for every 100 AurionGold, only recently formed by
the merger of Delta Gold and Goldfields. (more)
AOR experienced a large
breakaway gap accompanied by strong volume. It is
interesting to note the increased volume over the week prior to
Early sale of Telstra? [TLS]
The Coalition is moving towards an early sale
of the rest of Telstra, to be put to the Senate. (more)
TLS: Relative Strength (price ratio: xao),
MACD and Chaikin MF still show weakness.
Short-term: Avoid new entries. Maintain tight
Medium-term: Wait for the All Ords to signal a
Long-term: Wait for a bull-trend on the Nasdaq
or S&P 500 (primary cycle).
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