Trading Diary
December 19, 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 breezed through the 10000 level,
closing at 10070 on strong volume. The next resistance
level is at 10200, the last peak. The Nasdaq headed in the
opposite direction, closing down 1.75% at 1628.
Tech stocks lose their shine
Australia - ASX
The All Ords posted weak gains, closing at
3268 on light volume. By the close, sellers had taken
control.
Media laws to be reviewed
Senator Alston confirms that media cross-holdings
and foreign ownership laws are to be
reviewed. (more)
Newscorp [NCP]
Conclusion
Short-term: The Dow and All Ords still show weakness. Tighten
up on stop
losses and avoid new entries.
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.