Trading Diary
February 7, 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 to 9625 on reasonable volume, while the Nasdaq 100 closed down 2% at 1413. Both averages exhibit bearish MACD divergences.
 
Cisco outlook vague
Stock of Cisco Systems fell as the CEO declares that "visibility is still very limited". (more)
 
Australia - ASX
The All Ords continued downwards, closing at 3359 on strong volume. The MACD and 20-Day Slow Stochastic are both below their signal lines.
 

 
WMC [WMC]
WMC stocks strengthen on fresh rumors of a Rio Tinto takeover. (more)
 
Macquarie [MBL]
Macquarie Bank stock slides further on reports of European trading losses. (more)
 




Conclusion
 
Short-term: Wait for an improvement in local market conditions.
Long-term: Wait for a correction on the secondary cycle .
 
 
Colin Twiggs
 
 
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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.