Trading Diary
January 7, 2002

These extracts from my daily stock trading diary are 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 10197 on reasonable volume, but the up-trend is intact.  
The more volatile Nasdaq closed down 1.5% at 1649, also still in an up-trend.
 
AOL reduces earnings expectations
The slowdown in advertising spending has hurt AOL earnings. (more)
 
Australia - ASX
The All Ords closed up at 3385 on reasonable volume. The 20-Day Slow Stochastic is in overbought territory, confirming that this is not a good time to enter the market.
 

 
The bearish MACD divergence has weakened further.
 
Pacific Dunlop
Rumors of a takeover by US giant, Kimberly-Clark. (more)
 
Retail sales
Strong December retail sales are a good sign for the year ahead. (more)
 




Conclusion
Short-term: Don't jump in yet. The outlook may look rosy, but wait for the signal
Long-term trades: Wait for a correction on the secondary cycle.
 
Colin Twiggs
 
 
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