Trading Diary
February 28, 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 made early gains but retreated in the
afternoon to close down at 10106 on strong volume.
The Nasdaq Composite index fell more than 1% to
close at 1731.
Gateway
The computer
manufacturer warns of losses as high as $250 million in
2002. (more)
Australia - ASX
The All Ords closed down at 3359 on strong volume. The MACD
and Slow Stochastic are still below their signal
lines.
Anaconda [ANL]
Anaconda Nickel will be in default to
bond-holders after reporting a record first-half loss
of $457.5 million. (more)
Flight
Centre [FLT]
Despite difficult
circumstances, the travel group posted a 12% rise in
revenue and a 20% increase in half-year
profits. (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.