Trading Diary
January 31, 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 .

The Dow climbed another 1.6% to close at 9920 on strong volume, while the Nasdaq 100 made a weaker rally, to 1550.
Proctor & Gamble leads the market up, announcing good results. (more)
Walt Disney Co. reported a more than 50% drop in first quarter earnings, excluding one-off items, on a 5% fall in revenue. (more)
Australia - ASX
The All Ords rose strongly to close at 3404 on good volume, near to its high of 3425. The MACD has crossed to above its signal line, signaling a market entry point. Coming so soon after a bearish divergence, it will pay to be cautious and only enter trades where stop losses can be placed within tight limits.

Computershare [CPU]
Qantas moves register to rival, ASX Perpetual Registrars (more)
Lang Corp and Toll [TOL]
The pair's National Rail Consortium will acquire FreightCorp and National Rail for $1.05 billion. (more)

Short-term: The MACD has signaled a market entry point. Approach the market with caution as the MACD has just completed a bearish divergence. Only take trades where stop losses can be set within tight limits.
Long-term: Wait for a correction on the secondary cycle.
Colin Twiggs
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