Trading Diary
December 14, 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 up slightly at 9811, forming
a weak
hook reversal. The Nasdaq
and S&P 500 also closed in positive territory.
Shopping for Biotechs
When everyone's selling
.............
Australia - ASX
The All Ords closed down further at 3238, on
weak volume. The bearish divergence
on the
MACD signals a reversal.
The Australian Dollar
The Aussie may be forming a
double bottom - a close at 54 US
cents will complete the pattern. (more)
Conclusion
Short-term: The market is showing weakness. Tighten up
your stop
losses and exit on strong reversal signals.
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.