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 S&P 500 closed weaker at 1117, continuing its short-term down-trend.

Cisco

Concerns about falling demand for technology products cause an 8% fall in Cisco stock. (more)

 

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]

Murdoch is negotiating to secure control of troubled Kirch pay TV channel.(more)

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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