Trading Diary
March 6, 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
An inside day on the Dow, but with a strong close at 10574 on
reasonable volume. The Nasdaq Composite index closed up more
than 1% at 1890.
Fed sees signs of recovery
The Federal Reserve Beige Book report sees economic activity
increasing in 9 of 12 districts. (more)
Australia - ASX
The All Ords closed up strongly at 3397 on reasonable volume,
but the MACD is still below its' signal line.
Chaikin Money Flow above zero
reveals substantial
accumulation in the last quarter of
2001, while we have seen moredistribution in
2002.
Telstra raises dividend [TLS]
Telstra raised its first-half dividend to 11 cents (from 8
cents) while net profits were down 20% and trading conditions
are "flat".(more)
HSBC/St George? [SGB]
Takeover speculation increases as the restrictions on
individual shareholdings in St George expire in 4
months.(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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