The economy has always had ups and downs. It has always had, and always will. Some people become badly affected when the economy goes down. But some others are always doing good, no matter what direction the economy goes.
It seems we are at the beginning or maybe even the middle of a new economic recession. I personally don’t believe we are at the middle of it, because although the markets have crashed since the beginning of 2022, they can still go much lower, unless some improvements that I call them “miracles” happen. For example, if Russia suddenly stops invading Ukraine, the markets’ direction will be reversed. Currently, there is an increasing “fear” that has taken the markets into an “indecision” phase, which is more toward selling to make the markets go lower. Many of the big players of the markets who are the ones that take the prices up or down through huge positions (buy and sell) they take, are now waiting, that is what I call “indecision”, while many of them have already started selling since the beginning of last year. Therefore, “fear” hasn’t got full control of the markets yet, but if it does, the markets will collapse a lot more.
Today, “Non-Farm Employment Change” which is an extremely important and strong economic factor was released. It went down from 504K in January to 311K in February, which is a horrible drop. The markets expected it to do down to 224K but it didn’t, and that made the markets go up a little bit. I felt sorry for those who were buying after 8:30am EST today that “Non-Farm Employment Change” was released because I did know that the markets would collapse shortly. They bought just because “Non-Farm Employment Change” didn’t go down to 224K and it was released 311K. However, I don’t know why those who were buying didn’t look at the bigger picture, that is what the big players of the markets did, after the New York market opened at 9:30am EST today. S&P 500 went up a little bit after the “Non-Farm Employment Change” release at 8:30am EST because some people were mistakenly buying. However, it went down after the market opened at 9:30am, when it broke below a support level/line that was formed several hours before the market opened.
So, the big players of the market saw the bigger picture, but many others didn’t, and so they have probably lost a lot. The same thing happened yesterday too and S&P 500 crashed very badly, shortly after the market opened at 9:30am EST (S&P 500 is the index, average and representative of over 500 of the best and strongest American companies. It is currently my most favorite market for day-trading).
So, the bigger picture is not that good, as I’ve always emphasized in my day-trading Zoom meetings, since several months ago. I think S&P 500 that is currently about $3,878, will go down to $3,597 and then $3,397. Whether it will go even lower than that is just the matter of the “miracle” that I talked about above. The big players of the market think that the US and also Europe will be involved in the Russia/Ukraine crisis, and so they are hesitant and are selling slowly. If the Russia/Ukraine problem becomes resolved, that is so unlikely, then the game will change. At the same time, there are the China threats and many other problems like inflation, etc.
What do I mean?
The economy is going down and it can go much lower. Experienced and professional day-traders make a lot more money when the markets crash because targets get hit faster on a bear market. They make money, no matter what direction the market goes. But, how many can do it?
Not everybody is an experienced and professional day-trader. On the other hand, there are experienced and smart business-people who are not traders, but they keep making money too, no matter what the economy is doing. They have different sources of income and they have learned how to diversify. That’s the key secret: diversification and compounding interest…
This is how it works:
You create a scalable source of income that makes a lot of money, and it can make more and more money overtime. Then, you spend a portion of the money you make to create more sources of income that are not dependent on each other and are from different sectors (diversification), so that when the economy goes down, some of them can be affected, while others not only can still make money, but they can even make more money under a bad economic condition. This is how the rich become richer, according to Warren Buffett.
Most people cannot do this alone, otherwise we would have so many multimillionaires and billionaires around. However, something that cannot be done alone, can be achieved by a team and community. While the burden of creating different sources of income and diversification is not on the shoulders of the members, the community takes care of it and makes the members financially free, not suddenly, but eventually, slowly and surely.
This is exactly what The LuckScout Community developed for. What I explained above cannot be done overnight. Scams are waiting out there for those who want to get rich quick. But, those who want to be part of a strong foundation that permanently makes them financially free, are in the right place at the right time.
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