Trading Diary
January 22,
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 slightly at 9713 on
lower volume - an inside day where sellers failed to breach
the 9650 - 9700 support level. The Nasdaq 100, on the other
hand, is in a clear down-trend, closing down 3% at
1501.
Tech stocks
The market is downgrading computer stocks
while Amazon records its first ever profit of $5 million
($.01 per share). (more)
Australia - ASX
The All Ords closed up at 3363 on strong
volume.
Takeover fever in the Gold
sector
The market expects further
consolidation with stocks of Newcrest, WMC and
Goldfields rising.
Conclusion
Short-term: Wait for the MACD or MACD Histogram to signal
an entry point.
Long-term trades: Wait for a correction on
the
secondary cycle.
Colin Twiggs
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