Trading Diary
February 1,
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 fell slightly to 9907 on
normal volume, while the Nasdaq 100 closed down 1.4% at
1528.
Gold climbs
TMP gets
monstered
Stocks of TMP
Worldwide, operator of Monster.com, fell on concerns
about accounting practices. (more)
Australia - ASX
The All Ords retreated to close at 3386 on
strong volume. The 20-Day Slow Stochastic dipped to below
its signal line, signaling that conditions are not right
for further new entries.
Short-term: The MACD is still above its signal line but the
20-Day Slow Stochastic has crossed below. Avoid new trades
until there is clear direction.
Long-term: 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.