Trading Diary
March 8, 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 .

The Dow formed a third inside day closing up at down at 10572 on reasonable volume.
The Nasdaq Composite index had a stronger day, closing up 2.5% at 1929. A rise above 2100 will signal the start of a secondary cycle up-trend.
The S&P 500 has closed at 1164, near to its January high.
KMart puts up the shutters
The bankrupt retailer is to close 284 stores and cut 22,000 jobs. (more)  

Australia - ASX
The All Ords closed softer at 3428 on low volume. The MACD and Slow Stochastic are above their signal lines.

Harmony/Hill 50
South African gold producer, Harmony, now has control of Hill 50.(more)


Short-term: The MACD and the Slow Stochastic are above their signal lines. Take new positions but keep tight stops as we can expect a retest of support levels in the next week.
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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