Although I don't share it, I respect this point of view, ntm...Quote from nexttothemoon:
I may have come off as hypocritical and illogical... but I certainly didn't mean to.
I certainly can spot the massive problems in the economies of the world. Frankly by now anyone who cannot would have to be blind, deaf and dumb as it's pretty obvious the world is in a depression and headed for very troubled times... the likes of which no one has seen since the Great Depression.
My point was that for me... predictions mean nothing unless they are backed by price action on the charts that I can trade and profit from. I can have something written in stone and I still won't trade that until I see confirming price action. I trust the charts... not any economist, politician, Fed reserve governor, guru trader #257 etc.
Back in August/September when the crap was really starting to hit the fan I said to several people I thought the Dow for example would likely get down to 1500. That was an educated guess based on the world going into a severe depression far beyond anything we've seen in many generations.
Will that prediction (wild guess?) of Dow 1500 come true? Who knows... but I'll trade forex crosses and any other markets that I feel I can make a profit in regardless of where the economy goes.
I hope the hell the markets aren't pummeled to that level as many other facets of society will likely begin to break down and civil unrest across the world will likely take place... plenty of dire outlooks can be imagined.
I'm sure many use their brain power to conjure up all types of macroeconomic viewpoints and then trade off those assumptions. I don't do that... but certainly more power to anyone with enough brains to come up with accurate forecasts and the guts to back those forecasts with trading capital. To each their own and I'm certainly not saying my way is the best or only way. I'm wrong half the time on my trades so I'm certainly not the smartest or most accurate trader around... luckily perfection isn't needed to make a steady income from the markets.
Quote from ByLoSellHi:
Nowhere to hide.
I called it correctly in parts I, II, II, and I am highly confident I'll be vindicated in this call, yet again, calling for a major downturn in equity markets.
Central banks are now powerless to save the global economy, consumers and businesses will only increase their hoarding of cash and cutting of expenses and expenditures, and governments will not be able to stem the death grip of deflation nor prop up confidence by any method or measure.
We are staring into the abyss.
Call me whatever you want, say what you will, insult me - no matter. I called it right in parts I, II and III.
Let's see if I can make it four for four.
Another 17% to 25% downside correction in global equity markets is absolutely possible within 6 months, with particular currencies and commodities losing even more value than that.
As always, time/date stamp it.
Oh, the obligatory photo of a medevac:
