Terence Chan's  Instablog

Terence Chan
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I am a professional trader with 10 years experience in trading US and Hong Kong stocks. I believe in combining fundamental analysis and technical analysis. Swing trading is my primary trading strategy.
My blog:
Cheapest Stock Trading Strategies
  • Weekly Trading Outlook: Dollar, Bonds Support Short-Term Equity Correction 0 comments
    Sep 28, 2009 4:16 AM | about stocks: SPY, GLD, TLT, UUP, USL

    I's a data-heavy week we're heading into, and our previous forecasts "S&P 500 Lacks One Leg; May Stumble" and "Oil and Dollar: Harbinger Of Things To Come?" are coming to fruition. The weakness and strength in risky (i.e. stocks and oil) and risk averse (bonds and US dollar) assets, respectively, seem to be pointing to possible disappointing economic readings. Most important of all, watch for a possible breakout in bonds, a very high probability at this point. Stay light into equities but watch for buying opportunities near the channel range lows. We still maintain our range trading strategy recommendation.

    Data this week:
    Sept 29 Consumer Confidence
    Sep 30 GDP Final
    Oct 1 Personal Income/Spending, ISM Index, Auto Sales
    Oct 2 Nonfarm Payrolls, Unemployment Rate

    Stocks: SPY, GLD, TLT, UUP, USL
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