Trading Diary
February 13, 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 climbed more than 1% to close at 9988 on
reasonable volume, approaching the 10,000 resistance level.
The Nasdaq 100 was also up more than 1%, at 1486, but
the down-trend still continues.
Retail sales
rise
A
1.2% rise in January retail sales (compared to an
expected 0.3%) helps to boost the
market. (more)
Australia - ASX
The All Ords pulled back from the 3425 resistance level, to
close at 3415 on lower volume. The MACD and Slow
Stochastic are still above their signal lines.
Commonwealth Bank
[CBA]
Commonwealth announce a 6% rise in
half-year earnings, marred by higher bad debt charges
(Enron and Pasminco) and a weak investment
market. (more)
Conclusion
Short-term: The MACD and Slow Stochastic are both
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. March, traditionally a poor
month for stocks, is looming ahead of
the Dow and Nasdaq .
Colin Twiggs
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