Trading Diary
April 17, 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 fell 0.8% to 10220 on good volume. The up-trend on the secondary cycle is still intact.
The Nasdaq Composite index formed a closing price reversal, falling slightly to 1810 .
The S&P 500 also closed weaker at 1126, within the 1070 to 1180 trading range.
First-quarter earnings fell 32% as customers defer investment in new technology. (more)
Greenspan: encouraging signs
The Fed chairman suggested that he is in no hurry to raise interest rates.  (more)
ASX Australia
The All Ords had another good day, closing at 3351 on reasonable volume. Chaikin Money Flow is moving into positive territory and the MACD has joined the 20-day Slow Stochastic above its signal line.

Harvey Norman [HVN]
Sales growth has slowed with sales up 9.3% for the third quarter (4.6% excluding new stores). (more)
Singapore Telecom [SGT]
SingTel is likely to write down the value of its $1.7 billion Optus cable network because it is not making as much money as originally forecast. (more)

Short-term: Look for new entries.
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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