Trading Diary
December 3, 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 closed down at 9763, on reasonable volume. A close
below 9600 should signal a reversal of the past 2
months rally.
Bank stocks
Australia - ASX
The All Ords closed down at 3267 on
reasonable volume. The
MACD has crossed below its signal line for the
first time in more than 2 months.
Retail Sales
Consumer confidence rebounds on the strength of lower
interest rates and fuel prices, while unemployment moves
higher. (more)
Anglos up its offer - to brokers?
Conclusion
Short-term trades: Most short term trades have been
stopped out. Avoid new entries
and tighten up stops on remaining positions.
Long-term trades: Wait for a correction on the
secondary cycle.
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.