Trading Diary
February 12, 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 formed an inside day, showing uncertainty, and
closing down slightly at 9863 on low volume. The Nasdaq
100 was also down, at 1464.
More telecom
woes
Nortel Networks stock fell after warning that it
may not meet its first-quarter sales
targets. (more)
Australia - ASX
The All Ords closed up at 3423 on normal volume, after
reaching a new intra-day high of 3428. Expect further
resistance around this level. The MACD has
crossed to above its signal line.
Wesfarmers delivers
[WES]
Conclusion
Short-term: The MACD and Slow Stochastic have both
crossed to above their signal lines. Take entries on
short-term oscillator signals. Keep stop-losses tight as it
is late in the secondary cycle rally.
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.