Trading Diary
November 19, 2001

This is my daily 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
An hour before the close, the Dow was up more than 1% at 9976, testing the 10000 resistance level. Volume was normal.
 
New Housing Starts
New housing starts, a leading indicator, fall. (more)
 
Australia  (ASX)
The All Ords closed up slightly, at 3267, on light volume. The up-trend on the secondary cycle is still intact, although we may see a test of support levels later in the week.
 

 
James Hardie [JHX]
Building company, James Hardie, reported a first half profit slump with weak US markets. (more)
 
Cochlear [COH]
Cochlear reports a slow-down in sales but sticks to long-term 20% growth target. (more)
Dividends have grown by a minimum 25% p.a. over the past 5 years.








Conclusion
Short-term trades: Entries this late in an up-trend are subject to greater risk. Use trailing buy-stops to time entries and ensure that stop losses are placed within the 2% maximum acceptable loss.
Long-term trades: Wait for a pull-back on the secondary cycle.
 
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.