Trading Diary
November 12, 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 fell to 9554 after Friday's weak attempt to break
through the 9600 resistance level.
Can the market hold onto its gains?
When the recovery comes
Along with sales, corporate costs are also falling: oil
prices, commodities, labor costs and interest rates.
Expect profits to soar when sales do recover. (more)
Australia (ASX)
The up-trend continues, with the All Ords closing at
3239, albeit on low volume.
RBA warning
The central bank warns that the Australian economy will
not survive the global downturn unscathed.
(more)
Conclusion
Trading in the market requires patience. It is risky to enter
the market this late in the trend, so hold on to existing
long positions and keep your
stop losses tight.
Colin Twiggs
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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.