Trading Diary
March 5, 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 pulled back almost 1.5% on an inside day with weakness
in defense and retail stocks, closing at 10433 on strong
volume. We may well see a test of the 10300 support level
before the rally continues.
The Nasdaq Composite index closed slightly up at 1866.
The Nasdaq Composite index closed slightly up at 1866.
Australia - ASX
The All Ords reacted to yesterday's US markets, closing up at
3382 on strong volume. The MACD is still below its' signal
line.
Foxtel-Optus
Foxtel and Optus have struck a radical deal to share
programming, putting Foxtel in a strong position to renegotiate
expensive Hollywood contracts.(more)
Regional banks
Over-reliance on home lending may undermine the continued
growth of the regionals.(more)
Conclusion
Short-term: Avoid new entries until the MACD joins the Slow
Stochastic above its signal line.
Medium-term: Wait for a new high on the All Ords
Long-term: Look for a secondary cycle reversal on the Nasdaq or
S&P 500 - if they break above their January highs.
Colin Twiggs
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