Trading Diary
March 25, 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 closed down 1.4% at 10281 on low volume, below the
10300 support level. Still in an intermediate up-trend.
The Nasdaq Composite index closed down more than 2% at 1812. The intermediate trend is down.
The Nasdaq Composite index closed down more than 2% at 1812. The intermediate trend is down.
The S&P 500 closed down 1.4% at 1131. The index
is ranging between 1070 and 1180.
Tech stocks and banks lead the retreat
Concerns about further earnings disappointments forced tech and
banking stocks lower, with only gold edging higher.
(more)
Australia - ASX
The All Ords closed down at 3373 on low volume. The MACD and
Slow Stochastic are below their signal lines.
Gold
Sectors: Gold
XGO is rising steeply, above its 30-week weighted moving
average, while 3-year relative strength (price ratio) has
crossed into positive territory. Short-term trades if price
rises above 13.15.
Conclusion
Short-term: Avoid new positions.
Medium-term: Wait for a new high on the All Ords.
Long-term: Wait for the Nasdaq or S&P 500 to break above
their January highs.
Colin Twiggs
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