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Trading Diary
December 21, 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 50 points at 10035 on very high volume, the inside day showing uncertainty. The Nasdaq also showed uncertainty, closing up 1% after a 4% drop yesterday.
 
Consumer confidence up
A University of Michigan survey shows consumer confidence up more than 5% compared to November. (more)
 
Australia - ASX
The All Ords closed up at 3314 on strong volume, while the bearish signal on the MACD continues.
 

 
 
 




Conclusion
Short-term: The Dow is still showing uncertainty and the All Ords trend is showing weakness. Stay out of the market until there is clarity. 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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Colin Twiggs

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.