| Fearless 2010 prediction column! |
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| Written by Gary B. Smith |
| Sunday, 03 January 2010 16:18 |
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If you're like me, you LOVE predictions. Especially predictions about the market. Why? Because so, so often, they're extremely entertaining. And by that I mean wrong. Dead wrong. Oh, it's not because the forecaster is an idiot, it's just that even armed with facts, figures, statistics and gut feel, it's almost impossible to factor in EVERYTHING that could go right, or wrong. And even if you could assemble that kind of matrix, it's even more impossible to gauge how the market will react to all that news. As an example, one well-know guru forecasted economic calamity in late February, saying the markets would drop another 20 to 40% before bottoming. Graphs were produced. Facts toted out. Historical references made. All very convincing. The market bottomed 9 days later and never looked back. So, with all this in mind -- and let's just say if I'm wrong, I was at least entertaining -- here's my forecast for 2010: we'll be off to a slow to dismal start. That start includes the first few weeks of January. After that? Beats me.
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