Trading Diary
April 09, 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 at 10208 on stronger volume, continuing its
short-term down-trend.
The Nasdaq Composite index corrected sharply, closing down 2.4% at 1742.
The Nasdaq Composite index corrected sharply, closing down 2.4% at 1742.
The S&P 500 closed weaker at 1117, continuing its
short-term down-trend.
Cisco
Australia - ASX
The All Ords broke through support to close down more than
1% at 3315 on reasonable volume. Chaikin Money
Flow continues to signal distribution, while the MACD
is still below its signal line.
Newscorp [NCP]
Conclusion
Short-term: Avoid long.
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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Author: Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.