Trading Diary
December 10, 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 9921 on light volume,
below the 10000 support level. The S&P 500 and Nasdaq
were also down by more than 1%, but all three indexes are
still in an up-trend.
HP-Compaq
There appears little chance of the merger succeeding
as Packard and Hewlett heirs mostly oppose it. (more)
Australia - ASX
The All Ords closed down, near the 3300 support level,
on normal volume. The up-trend continues.
News Corporation [NCP]
NewsCorp stock has risen more than 9% over the last two days
on reports of a planned takeover of German media giant,
Kirche Gruppe. (more)
Normandy
Conclusion
Short-term: The up-trend continues on both the Dow and ASX.
Look for entry signals where the stop
loss can be set within a 2%
limit.
Long-term trades: Wait for a correction on the
secondary cycle.
Colin Twiggs
Please forward this to your friends and colleagues.
To be included on our mailing list, reply to
this Email adding MAIL ME to the subject title. All
details submitted are protected by our
Privacy Policy.
Back Issues
Back Issues
Access the Trading Diary Archives.
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.