Trading Diary
January 16, 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 fell by more than 2% to close at 9712 on strong volume.
The S&P 500 closed down 1.6% and the Nasdaq 100 was
down 3.3%.
Intel and JP Morgan raise recovery
concerns
Intel cuts back on capital spending and JP Morgan misses profit
forecasts due to bad loans to Enron and Argentina.
(more)
Australia - ASX
The All Ords rallied to 3367 on reasonable volume, as buyers
entered the market at the 3350 support level. There is still no
market signal from the MACD.
Flight Centre soars [FLT]
Short-term: Stay out while the Dow falls.
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.