Trading Diary
April 16, 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 rallied more than 2% to close at 10301 on good volume. The up-trend on the secondary cycle is still intact.
The Nasdaq Composite index gapped up 3.5% to close at 1815.
The S&P 500 also climbed more than 2%, closing at 1128. Still within the 1070 to 1180 trading range.

Tech rally boosts Dow
A tech rally, with positive news from Texas Instruments, Sprint and Novellus, and lower than expected March CPI figures boost the Dow.  (more)
General Motors
GM reported strong sales and first-quarter earnings despite a US$ 400 million restructuring charge.   (more)
ASX Australia
The All Ords rallied to 3337 on reasonable volume, but is still in a down-trend with Chaikin Money Flow signaling distribution. The MACD is still below its signal line.

SFE debut [SFE]
The Sydney Futures Exchange opened midday on the ASX at $4.00 then slid back to close at $3.80. (more)


Short-term: Wait for MACD to cross above its signal line (Slow Stochastic is already above).
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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