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
 
 
P.S. Apologies for the delay in sending out the Trading Diary. We have out-grown our emailing program and are trying out new software.
 
 
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Colin Twiggs

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.