Trading Diary
December 11, 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
Another small loss, with the Dow closing at 9888 on strong
volume, encountering
resistance at the 10000 level.
The Nasdaq closed slightly up, at 1661, while forming an
inside day which signals market
uncertainty.
Fed cuts rates to lowest in 40 years
Merck spoils the party
Stocks of the drug maker Merck, a Dow stalwart, fell almost
10% on the announcement that it will not meet earnings
forecasts. (more)
Australia - ASX
The All Ords closed at the 3300 support level
on reasonable volume, as buyers continue to resist
selling pressure.
Suncorp reaps merger benefits [SUN]
Suncorp-Metway doubles estimates of annual savings from the
merger of its general insurance division with GIO, to $240
million. (more)
Conclusion
Short-term: Wait for uncertainty on the Dow to clear. Tighten
up
stop losses on existing positions.
Long-term trades: Wait for a correction on the
secondary cycle.
Colin Twiggs
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