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Trading Diary
July 21, 2003
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 formed an uncertain inside day, closing 1.0% lower at
9096 on low volume.
The intermediate trend is up. A fall below 8968 will signal a reversal.
The primary trend is up.
The intermediate trend is up. A fall below 8968 will signal a reversal.
The primary trend is up.
The S&P 500 lost 15 points to close at 978 on low
volume.
The intermediate trend has turned down. MACD shows a bearish divergence.
The primary trend is up.
The intermediate trend has turned down. MACD shows a bearish divergence.
The primary trend is up.
The Nasdaq Composite fell 1.6% to close at 1681 on low
volume.
The intermediate trend is up. If price respects support at 1680, this will signal trend strength.
The primary trend is up.
The intermediate trend is up. If price respects support at 1680, this will signal trend strength.
The primary trend is up.
The Chartcraft NYSE Bullish % Indicator is down
at 75.39% (July 18).
Market Strategy
Short-term: Long if the S&P500 is above 1015. Short if below 975.
Intermediate: Long if S&P 500 is above 1015. Short if below 962.
Long-term: Long.
Short-term: Long if the S&P500 is above 1015. Short if below 975.
Intermediate: Long if S&P 500 is above 1015. Short if below 962.
Long-term: Long.
Treasury yields
The 10-year note yield climbed 0.2% to 4.19%.
The intermediate trend is up; the primary trend is down.
The 10-year note yield climbed 0.2% to 4.19%.
The intermediate trend is up; the primary trend is down.
Gold
New York (17.08): Spot gold rallied to $351.60.
The primary trend is up.
New York (17.08): Spot gold rallied to $351.60.
The primary trend is up.
ASX Australia
The All Ordinaries made a disappointing breakout from the small
pennant, failing to hold above resistance at 3080. The index
closed weakly, up 6 points at 3071 on low volume. XAO has
formed two equal highs over the last month, not particularly
bearish in an up-trend, unless there is a fall below the
intervening trough of 2979.
The intermediate trend is up.
The primary trend is up (marginally).
Slow Stochastic (20,3,3) has crossed below its signal line; MACD (26,12,9) is above; Twiggs Money Flow signals accumulation.
The intermediate trend is up.
The primary trend is up (marginally).
Slow Stochastic (20,3,3) has crossed below its signal line; MACD (26,12,9) is above; Twiggs Money Flow signals accumulation.
Market Strategy
Short-term: Long if the All Ords is above 3075. Short if the index falls below 3050.
Intermediate: Long if the index is above 3075; short if below 2979.
Long-term: Long above 2979.
Short-term: Long if the All Ords is above 3075. Short if the index falls below 3050.
Intermediate: Long if the index is above 3075; short if below 2979.
Long-term: Long above 2979.
Oil & Gas Exploration & Production
Energy stocks have been rising lately, with 6 of the 7 industry stocks in the ASX 200 recording gains in excess of 10% in the last month.
Energy stocks have been rising lately, with 6 of the 7 industry stocks in the ASX 200 recording gains in excess of 10% in the last month.
Oil Search [OSH] has formed a stage 1 base from [a] to [c] and,
having completed a double bottom at [b] and [c], threatens to
break above the long-term trendline. Twiggs Money flow (100)
and Relative Strength (price ratio: xao) are rising strongly.
Novus [NVS] has formed a smaller but still respectable base,
completing a double bottom at [a] and [b].
Twiggs Money flow (100) and Relative Strength (price ratio: xao) are rising strongly.
Twiggs Money flow (100) and Relative Strength (price ratio: xao) are rising strongly.
Woodside [WPL] has formed a more unstable V-bottom at [a].
Relative Strength (price ratio: xao) is rising strongly; Twiggs
Money flow (100) has completed a bullish divergence but has not
yet crossed above zero.
Hardman [HDR] has confirmed support at 0.40 with equal lows in
2001 and 2003. The stock has now completed an inverted head and
shoulders reversal, at [a], [b] and [c].
Twiggs Money flow (100) rose to above zero and Relative Strength (price ratio: xao) is bullish.
Twiggs Money flow (100) rose to above zero and Relative Strength (price ratio: xao) is bullish.
Understanding
the Trading Diary has been expanded to offer further
assistance to readers.
Colin Twiggs
The meaning of our existence is not
invented by ourselves,
but rather detected.
~ Viktor Frankl: Man's Search For Meaning (1963).
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