Trading Diary
December 20, 2001
This is my daily stock trading diary.
It is intended to illustrate the techniques used in
short-term share trading and should not be interpreted
as investment advice. Full terms and conditions can be found
at
Terms of Use .
USA
Two hours before the close, the Dow is down 40 points and
showing uncertainty. The Nasdaq has now commenced a
down-trend, breaking below
support at the previous trough, after recording a lower peak.
Tech stocks continue to slide
Australia - ASX
The All Ords closed up at 3286 on weak volume.
Banks & Finance
The Banks and Finance Index is showing positive signs:
-
A positive divergence on the Detrended Price Oscillator;
-
MACD has crossed above its signal line; and
-
The 20-day Slow Stochastic has done likewise.
Conclusion
Short-term: The Dow is show weakness while the Nasdaq has
entered a down-trend on the secondary cycle. Tighten
up on stop
losses and avoid new entries.
Long-term trades: Wait for a correction on the
secondary cycle.
Colin Twiggs
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