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The only upbeat news comes from a technical analyst, Tom DeMark, who opines that the markets might rise 5% by the end of December and fall by the same amount in January. See our Indian market outlook here .
Bank runs, when people pull their deposits out of a bank out of fear, that started with Greek banks has now spread to French banks. French lenders lost €100bn in short-term deposits in September alone. In the meantime, risks of a slowdown in Asia grows. Recessions in the U.S. and Europe may cut emerging East Asia’s growth rate to about 5.4 percent in 2012. Brazil has already slowed down from 7.5% growth registered in 2010 to 2.1% in Q3 2011.
And what is Germany doing to prevent a spiral down the rabbit hole? Doling out more austerity. Look no further than Ireland to see how austerity can devastate a country.
I’ll leave you with three things:
- Always have a plan
- Don’t forget that the ultimate goal of investing and trading is to make money
- Learn from your mistakes and let it go