Trading Diary
November 22, 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
US markets were closed overnight for the Thanksgiving holiday.
 
Oil Prices
Oil prices rose 6% as Norway offers to cut production. (more)
 
Australia  (ASX)
The All Ords closed slightly down at 3262 on low volume. The up-trend on the secondary cycle still looks strong, with the 21-day moving average crossing to above the 150-day.
 

 
Metcash [MTT]
Metcash reports strong first-half results and declares its first dividend since 1997. (more)
 
WMC [WMC]
ALCOA is likely to make a direct bid to shareholders as WMC stock price rebounds. (more)
 

 
IncredibleCharts
Due to the tremendous response from investors, we are transferring to a more powerful server. Please alert us if you encounter anything unusual. There are bound to be a few teething problems but the move should solve the slow registrations and logins encountered over the past week.
 




Conclusion
The US market is entering an uncertain period. Tighten up your stops on existing long positions and avoid new entries.
Long-term trades: Wait for a correction 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.