subject: How To Make Money On The Stock Market And Horrible Predictions [print this page] How To Make Money On The Stock Market And Horrible Predictions
Like last week after I said it, several of you thought I was nuts with regard to saying that, nonetheless they did and the week closed up.
Anything at all is possible in the market no matter if you understand it or not. Think back to March 09. It appeared as if the entire world had been coming to an end and yet markets began the most significant 9 month run ever.
This is precisely why in my opinion the bulls have an edge over the bears entering investing next week. The Dow, S&P 500, Nasdaq, and Russell 2000 are all in powerful uptrends.
You can't claim that. Absolutely nothing on the stock chart suggests that a double top will almost certainly take shape on the Dow. You aren't a prophet. You're not Jesus Christ whilst I understand that if you are a christian you wish to be. You'll never manage to foresee the future like Jesus therefore you ought to stop trying to do it. You don't own a time machine either. You cannot foresee if a very little gnat is going to land on your nose within the next 4 seconds not to mention if the Dow will perform a bearish double top reversal off the 12400 level.
A different trader on the opposing end of the spectrum said: I guarantee gold will be in a trading range for the entire year. You cannot claim that. You don't own a crystal ball.
Look folks, you ought to get out of your head the thought that successful trading is all about being able to predict the future. In truth, traders and investors which aim to forecast the future usually turn out humiliated and pennyless.
You guys remember the training video I did for the Stock Trading Master (STM) channel called I Know A Guy? I made the online video back on February 1st.
The facts demonstrate otherwise. We've had uprisings in the middle east, a huge Tsunami in Japan that has slain over 10,000 people, a nuclear plant melt down, a whole lot has happened since Sprott made this prediction.
An individuals name doesn't amaze me and it shouldn't wow you. In the event an individual is making prophecies regarding the price of something and their utilizing a non-sequitur such as their name or the amount of money they manage to persuade you they can forecast the future, you need to run the opposite way.
He was wishing the economy would continue to fall to support his gold position. Thus Fox and Schiff have an ideological agenda which is in harmony and therefore Fox News pumps Peter Schiff whenever they can. He continues on to say that this will be a black hole for tax payers and that they will need to bail out GM repeatedly. It ended up that the GM bail out did deliver the results. It rescued over 1 million jobs. The government never told anyone which kind of car they had to purchase. The tax payer ended up being completely paid back.
You have to get out of your head that prosperous stock investing is about forecasting the future. It isn't about that. It is about taking a look at a stock chart and establishing the trend. Whenever you think about it, we are all a trend trader. Where we differ is timeframe and how long we participate in the trend for. It really is all about establishing the trend.
The Russell 2000 has recently smashed above the previous high, nevertheless we'd like confirmation of this break next week. This is certainly significant because the Russell 2000 is leading the other main indices to the upside which implies the other major indices will do a breakout as well.
This higher reading implies a bullish opinion by institutional traders. Bear in mind, +1 tick is a buy, -1 tick is a sell. In a perfect world, the market makers would be able to match just about every buy order with just about every sell order and the TICK would always be 0. Nevertheless when institutional traders come in and purchase stocks throughout entire sectors, the market makers aren't able to match up every single buy order with a sell order immediately and so you have non-zero readings. Standard retail trading is between -600 and +600. The high reading on the TICK supports my thesis that the bulls have an advantage going into trading next week.
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