Trading Diary
February 8, 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 closed higher at 9744 on
reasonable volume. The Nasdaq 100 was up 2.7% at
1452, but there is no sign of a break in the down-trend.
Telecom due for
a shake-out
After
the collapse of Global Crossing, debt-burdened telecom
companies are coming under close
scrutiny. (more)
Gold
Australia - ASX
The All Ords rose strongly to close at 3394 on reasonable
volume. The MACD and 20-Day Slow
Stochastic are still below their signal
lines.
SingTel profits down
[SGT]
Conclusion
Short-term: Wait for the MACD and Slow Stochastic to cross
above their signal lines.
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.