Trading Diary
November 20, 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
The Dow retreated to close at 9898 after encountering selling pressure near the 10000 resistance level. We may see a pull-back in the week ahead, testing support levels.
 
Good signs for recovery
Even if there is a correction, the strength of the current rally is a good sign for a recovery next year. (more)
 
Australia  (ASX)
The All Ords closed up at 3288, on reasonable volume. The up-trend on the secondary cycle is still intact, as evidenced by the signal on the detrended price oscillator.
 

 
Anglo may add cash
AngloGold may add a cash component to its offer for Normandy. (more)
 




Conclusion
The Dow is showing weakness. Return to the sidelines and wait for conditions to improve.
 
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.