Trading Diary
January 10, 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
Two hours before the close, the Dow had recovered from a
dip during early trading, The Nasdaq was up
0.7%.
Merrill Lynch
Merrill are to cut 16% of their staff and take a
restructuring charge of $2.2 billion in closing unprofitable
operations. (more)
Australia - ASX
The All Ords closed down at 3352 on stronger
volume. For the past 9 days the index has been trading in
a narrow range between 3350 and 3390. Increasing volume over
the last 3 days indicates that a downside breakout is most
likely.
Asia
Short-term: Not a good time to enter the market. Wait for the
signal.
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.