Trading Diary
April 11, 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 has been spooked by disappointing results from GE, IBM and Yahoo, closing down 2% today at 10176 on very high volume.
The Nasdaq Composite index is close to its 1700 support level from February, closing down more than 2% at 1725.
The S&P 500 dropped 2.4% to close at 1103, still above its 1070 support level.

General malaise
General Electric reported a first quarter drop in net income - the first time in 7 years. (more)
ASX Australia
The All Ords closed down at 3320 on normal volume. The MACD is still below its signal line - note the bearish divergence over the last 4 months.

BHP and MIM's control of the Queensland coal industry is threatened by an alliance between Anglo American and Japanese trading house Mitsui.(more)


Short-term: Continue to 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

P.S. We are trying out new Email software. Please report if you experience any problems with the trading diary.

Please forward this to your friends and colleagues.

Back Issues
Click here to access the Trading Diary Archives.

Back Issues
Access the Trading Diary Archives.