Trading Diary
February 19,
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 down 1.6% at 9743
on normal volume. The Nasdaq 100 fell 3.5% to close
at 1386 as tech stocks are sold down on accounting
concerns.
IBM leads the
retreat
IBM stock fell 3.3% as the
company agrees to change disclosure on future
transactions. (more)
Australia - ASX
The decline on the All Ords has slowed
with the index closing at 3414 on lower volume.
Expect further weakness today as the market reacts to
the Dow/Nasdaq. The Slow Stochastic is still below its
signal line.
CSL [CSL]
Market reaction was uncertain despite
the blood products group posting a 107% rise in net
profits for the half year ended December
2001. (more)
Conclusion
Short-term: Avoid further new entries.
Long-term: Wait for a correction on the secondary cycle.
Colin Twiggs
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