Trading Diary
January 24,
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
Another indecisive day, with the Dow
closing up at 9763 but not breaking out of the 9600 - 9900
trading band - another
inside day. The more volatile
Nasdaq 100 bounced up a further 1% to close at 1565
but is still in a down-trend. More losses are expected to
be announced on Friday.
Greenspan: The worst is
over
Gateway
Australia - ASX
So much for the
doji star - the All Ords rose
to 3372 on stronger volume. There is still no signal from
the MACD (26,12,9) or the MACD Histogram
(100,50,30).
WMC [WMC]
Short-term: Wait for an entry signal.
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.