Trading Diary
January 17, 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 had recovered by more than 1%, an hour before the
close. The S&P 500 was up 0.6% and the Nasdaq 100 up
1.6%.
All three indexes still show uncertainty, posting
inside days so far.
Wall Street receives some reassurance
General Electric, Citigroup, Compaq and Yahoo match or beat
earnings forecasts. Microsoft and IBM to report December
quarter results after the close. (more)
Australia - ASX
The All Ords broke below the 3350 support level to end at 3336
on reasonable volume. The MACD confirms
that buyers should stay clear of the market.
The Building sector boom continues
Short-term: The markets look uncertain. Wait for the MACD to
signal direction.
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.