Trading Diary
November 8, 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 closed at 9587, failing to break above the 9600 resistance level.
 
Are we in a Bear Rally?
Many analysts are predicting that, within the next few months, stock prices will return to September lows. (more)
 
Europe
The Bank of England and European Central Bank cut interest rates by 0.5%. (more)

Australia  (ASX)
The All Ords regained some of yesterday's losses but appears to be encountering resistance at around 3225.
 

 
National Australia Bank [NAB]
NAB reports a 36% drop in profits after write-downs in US subsidiary, Homeside. (more)
 




Conclusion
Keep your stop losses tight and wait for the market to show clear direction. The market is too uncertain for late entries.
 
Colin Twiggs
 
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Colin Twiggs

Author: Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.

He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.