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.
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