Trading Diary
March 19, 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 at
Terms of Use .
USA
The Dow continues to range between 10300 and 10700, closing
up 0.5% at 10635 on low volume.
The Nasdaq Composite index closed up slightly at 1880.
The Nasdaq Composite index closed up slightly at 1880.
The S&P 500 is again testing resistance at 1170 -
1180, the level of its January peak, closing at 1170.
HP-Compaq
Hewlett-Packard CEO, Carly Fiorina, claims a "slim but
sufficient" majority in favor of the merger with Compaq.
(more)
Australia - ASX
The All Ords closed up slightly at 3406 on normal volume. The
Slow Stochastic crossed above its signal line.
Macquarie focuses on costs [MBL]
Sectors: Banks & Finance
XBF continues its impressive rally with rising relative
strength and rising 30-week weighted moving
average.
Conclusion
Short-term: Avoid new positions until MACD turns above its signal line.
Short-term: Avoid new positions until MACD turns 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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