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
Low interest rates and the first-homebuyers scheme keep the building sector booming. (more)
 
Harvey Norman [HVN]
Sales growth returns. (more)
 




Conclusion
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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