Trading Diary
February 26, 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 eased slightly to 10115 on reasonable volume,
holding above the 10000 resistance level.
The Nasdaq 100 lost 0.5% to close at 1401.
IBM and
AOL
Swing trader Dave
Landry believes that IBM and AOL have further
down-side. (more)
Australia - ASX
The All Ords held on to some of its early gains, closing
at 3380 on weak volume. The MACD and Slow
Stochastic are still below their signal lines.
WMC [WMC]
Southcorp
lacks fizz
[SRP]
The Australian wine
maker reported first-half earnings level with last
year, after adjusting for the sale of its
water-heater division. (more)
Conclusion
Short-term: Avoid new entries until there are positive
signals from the MACD and Slow Stochastic.
Long-term: Wait for the US uncertainty to clear.
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.