Trading Diary
November 5, 2001
This is my daily short-term stock
trading diary. It is intended to illustrate the
techniques used in short-term share trading and should not
be interpreted as investment advice. Full terms and
conditions can be found at
Terms of Use .
USA
The Dow is making good progress, having risen overnight by
more than 1% to close at 9441. Although this is
identified as a
market turning point by William
O'Neill, wait for a break above the 9600 resistance level to
confirm the resumption of an up-trend.
More rate cuts expected
Australia (ASX)
The All Ords is drifting lower but remains above the 21-day
moving average.
Building Materials Sector
The relative strength of the Building Materials Index
has declined noticeably over the past few weeks. Take a look
at the
Price Ratio indicator below:
AMP Limited [AMP]
Net cash flows fell by 60% in the third quarter, reflecting
worldwide investor nervousness with equity markets.
Management are still predicting double-digit growth in
operating margins. This will be difficult to sustain if
outflows continue. (more)
Conclusion
We are still in "boredom" mode with no significant market
signals.
Hold on to existing long positions but tighten up
on Stop
Losses.
Colin Twiggs
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