Trading Diary
January 29,
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 plummeted 2.5% to close at
9618 on strong volume, while the Nasdaq 100 closed
down 2.91% at 1519.
The Fed
Market
concerned about accounting
Concerns over the
quality of reported earnings have affected market
optimism, even General Electric may be on the
list. (more)
Australia - ASX
The All Ords continued to climb, closing
at 3393, despite a fall-off in volume and a continued
bearish divergence on the MACD.
Banks back in
favor
Short-term: Wait for the market to react to the Dow.
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.