Market conditions currently have many folks feeling a little better about their long range financial accounts now that the market has moved up from the deep low in March '09.
If you are a market timer then you may have bought at the temporary bottom during March. It is the summer of '09 and you've seen the market move back up to a respectable fibonnaci retracement and you are looking for a position to enter short for the next expected move down.
The fact is tough that most people are not traders but rather long-term investors operating by the "old" concept of "buy and hold".
How Good a Predictor
In 1938 RN Elliott wrote the Elliott Wave Principle and this technical market analysis has been a remarkable fore runner to anticipating the next move in financial and commodity price based markets.
Elliotticians have planned for the current "Grand Super Cycle" degree move down for a number of years (1997). (So you get an idea of the difference consider that 1929 was only a Super Cycle compared to this one being a Grand Super Cycle). Those of us who use Elliott Wave patterns to assess market conditions use fibonnaci retracements and projections to establish our positions in the market.
Technical market analysis is different than "fundamental" analysis in that we look to see what history has said in the past in order to project what may come next. Fundamentalists depend on the current market information to form opinions of what they anticipate may happen with no real consideration for the much longer term trends.
The book by Robert Prechter - The Elliott Wave - teaches these concepts for anyone willing to work at understanding it. Here is a recent lead into one of their articles:
"Zombie images ... are an apt metaphor for what takes place in a socialist-minded downturn. The U.S. Government's policies suck cash and creditworthiness from the living and transfer it to lifeless corporate shells, such as Chrysler, GM, AIG, Fannie Mae, bankrupt homeowners and a hundred banks."
~ May 2009 Elliott Wave Financial Forecast
Time for a Change
So, if we have not yet seen the worst of this financial devastation what should we do? In my case, in addition to continuing trading commodities, I have built an entirely new business - online having left the offline world. Many of my associates are doing the same.
Times like these often provide the basis for change in our lives as we rethink talents, abilities and resources and seek new ways of operating.
So, for some this may mean becoming a trader and for others it may mean starting their own business. The question is this: As the world is changing rapidly before our eyes, should you be thinking about how you and your family will be affected and is there anything you can do to take action now? Personally I chose to move from the offline world to the online world for doing business.
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Jack Funderburk has owned and operated small businesses for over 25 years. He now provides resources for those starting internet businesses. Jack says, "Learn Marketing / Advertising before anything else, then you're prepared for any online business."
To Learn More Go to:
http://Building-Businesses-Online.com/start-business-online-from-scratch.html
AND download Jack's ebook, Building a Purposeful Business Online
