Trading Diary
December 6, 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 slightly at 10097 after trading in a
narrow range for the day, on reasonable volume. The
Dow, S&P 500 and Nasdaq are all showing
uncertainty but are still
in an up-trend.
Job Cuts Record
Australia - ASX
The All Ords has run into resistance at around 3300,
retreating from a morning rally to close at 3293 on strong
volume. Sellers are back in control but the up-trend
remains intact.
Australia in a strong position
RBA governor, Ian McFarland, feels that Australia is in
a strong position to withstand the effects of the global
downturn. (more)
Emotion, The Investors Enemy
Conclusion
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.