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 .
USA
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]
Conclusion
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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