Trading Diary
March 15, 2002

These extracts from my daily trading diary are intended to illustrate the techniques used in short-term trading and should not be interpreted as investment advice. Full terms and conditions can be found atTerms of Use .

The Dow climbed to 10607 on very high volume that is often associated with a triple-witching Friday.
The Nasdaq Composite index rallied to 1868.
The S&P 500 recovered to 1166 and is likely to test resistance at 1170 - 1180 in the days ahead.

Adspend set to recover
UBS analyst predicts that advertising revenues will recover in 2002 - good news for media stocks which have been severely affected by the advertising recession. (more)

Australia - ASX
The All Ords fell sharply during the last few minutes of triple-witching hour and a further 12 points in the 10 minutes after the close - the settlement period when our stops cannot be activated!! The final close was almost 1% down at 3357 on surprisingly normal volume. The MACD and Slow Stochastic are below their signal lines.

Harvey Norman [HVN]
The retailer posted a half-year net profit of $68 million, up almost 20%, with strong sales of entertainment goods.(more)

Sectors: Telecommunications
XTE is forming a solid Stage 1 base so keep an eye on those Telstra stocks.


Short-term: Avoid new positions until there are signs of a recovery.
Medium-term: No new entries until the All Ords makes a new high.
Long-term: Wait to see if the S&P 500 breaks above its January high.

Colin Twiggs

P.S. We are trying out new Email software. Please report if you experience any problems with the trading diary.

Please forward this to your friends and colleagues.

Back Issues
Click here to access the Trading Diary Archives.

Back Issues
Access the Trading Diary Archives.