Forecasts in the financial markets are a dime a dozen, however, there are some out there that are worth reading. I never had a real mentor but everything I know about the financial markets I learned from my virtual mentors and The School Of Hard Knocks. One of Rob Prechter’s 6 rules, What Every Trader Needs To Be Successful. “The School of Hard Knocks is the only school that will teach you the emotional aspects of investing, and the TUITION IS EXPENSIVE."
People don't just wake up on day and make it big in the stock market. Sure there are a select few that make it big fast but that's a one in a million, the same thing as winning the lotto. There are people who do well trading the financial markets, however those people have lost money and have also made money. As an example, Jesse Livermore, everybody thinks he died broke, it's a fallacy, he had some rough times, but he also controlled the financial markets at one time, Reminiscences of a Stock Operator is probably my favorite book.
One recent article that brings you a forecast that I happen to agree with, however, how he determines the outcome is different than mine. The article is written by Puru Saxena A Chilly Winter. I won't kill his article, you read it from the source.
The other article that brings you a forecast in the financial markets is written by Martin Armstrong What's Up With Gold?, and again I won't kill his article either.
There are many good forecasters out there and everyone of them has their own style. That is the secret "your own style". You can't trade exactly like someone else. You have to have your own style and until you have your own style the tuition is expensive like Rob Prechter says.
Today I was talking to a friend of mine, he asked me "where's the market going". I told him to read my new blog. If you have been reading my blog you know that I am forecasting, based on my model, a pivot point in the financial markets at the end of the year, another pivot point in the financial markets in the third week of the year. Here's the kicker, I haven't told you when the next pivot point is after that. For one thing, the further out you go in your market forecasts the less accurate they are. I have a pretty good idea where the next pivot point is in the financial markets after the 3rd week in January, but I have to wait to tell you. I have to wait until this pattern we're in unfolds in the 3rd week of January 2012.
The stock markets should have momentum to the upside till the end of the year, that is what my model says, and that is what I am going to do.
Try out my Feed Burner and stay tuned for the upcoming changes in trend.