June 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 .
The Dow rallied more than 0.5% to 9645 on normal
A break below 9500 will signal a primary bear-trend. The
secondary cycle trends downwards.
Chartcraft's NYSE Bullish % Indicator has given a bull
correction signal, warning investors to adopt defensive
The Nasdaq Composite eased slightly to
The primary and secondary cycles continue downwards.
The S&P 500 gave up most of its gains to
close up 3 points at 1030.
Primary and secondary cycles trend downwards.
A US citizen was arrested May
in connection with al-Qaida plans to explode a radiological
'dirty' bomb in the US. (more)
Wal-Mart's rosy outlook
helped the market overcome the terrorism scare.
The ASX was closed Monday.
BHP Billiton [BHP]
BHP plans a $1.7 billion expansion of its
steel and coal operations as the steel industry recovers.
Chaikin Money Flow shows a bullish
divergence, while MACD and Relative Strength (price ratio:
xao) are still weak.
Short-term: Avoid long. 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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