Trading Diary
March 20, 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 .

The Dow fell more than 1% to 10499 but continues to hold above the 10300 support level.
The Nasdaq Composite index fell 2.5% to 1832.
The S&P 500 closed down 1.5% at 1151, again failing to penetrate resistance at 1170-1180. 
Rate hikes?
The Fed's shift to a neutral bias for interest rates may signal that rate hikes lie ahead but, overall, is a healthy sign for the economy. (more)

Australia - ASX
The All Ords closed up at 3412 on normal volume but Chaikin Money Flow signals that distribution is taking place. The Slow Stochastic is above its signal line.

MIG to raise $1 billion [MIG]
Macquarie Infrastructure Group confirms its intention to up its investment in Canadian toll road 407.(more)

Dollar at 6-month high [AUD]
The Australian dollar closed at 52.77 US cents - the highest close in 6 months.(more)


Short-term: Avoid new positions until the MACD crosses above its signal line.
Medium-term: Wait for a new high on the All Ords.
Long-term: Look for the Nasdaq or S&P 500 to break above their January highs.

Colin Twiggs

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