PLANNING FOR A MARKET CORRECTION

i have spent the last 4 months adding charts to the SAFE HAVEN folder in Collections to prepare this group for a market correction in the $SPY and $QQQ

I upload the $SPY and $QQQ charts every weekend to show how it is moving and for the last 12 months, we have been monitoring the movement of this Impulse Wave and from our view, we are towards the end of Wave 5 now.

Apart from an extended and very aggressive Wave 4 pull back between August -  October, the vast majority of our projections in the Top 20 charts have been correct.

We never doubted that the pull back between August - October was Wave 4 and we encouraged all members to stick it out and wait for Wave 5 to come and it did and it came very aggressively too.

Many of us who stuck to the strategy and the count, made considerable gains from this from November onwards.

It is time to trust the charts again.

I can not tell you which companies to buy from the Safe Haven folder, that is not what this service provides but I do alert what I buy and I will continue to do that.

Your holdings might be different to me and your strategy might be different to mine.

I am solely focused on long term and I do not take unnecessary risks, my number one priority is conserving the capital I have.

Some people want to take full advantage of the market downturn and short the market and go heavy into Short ETF's, like the $SQQQ which is 3 X leverage....I am more inclined to put my money into a position that would conserve it with modest or slight gains, instead of taking on unnecessary risk by going heavy into one of these ETFs like the $SQQQ, I will consider a position but it will not be big.

You need to evaluate what your tolerance is for risk and plan accordingly.

What I have learnt from the aggressive Wave 4 decline in August '23 from this group is that MANY people struggle during any decline, their heads drop, they become negative and they share this negativity through our chat groups and this spreads like a virus.....people then get discouraged from the negative tone and further struggle, the cycle continues and within no time, people are panic selling, leaving the group and even worse, may never invest again.

I was genuinely shocked how much people struggled, considering Wave 4 is the least aggressive pull back of all of the pull backs.

An ABC correction is SIGNIFICANTLY MORE AGGRESSIVE.

Which is why I took steps to help our members, I started the Elliott Wave Theory Course, I moved the entire chat groups to Patreon, so only members can chat and try to curtail the negative chat, I set up the Collections folder and built the Safe Haven folder and have been working on it for 4 months now and I will continue to build on this and prepare the group as best I can.

I want to make sure we have progressed from what happened during the Wave 4 pull back and make sure the group is prepared in terms of safeguarding capital and mentally.

So this is what I propose:

1. Do not wait for me to tell you what stocks, ETFs, Crypto, Bonds to buy, in order to prepare for this correction.....history has shown me that not one single persons strategy is the same as the next. 

- I will add as much commentary as possible under all Safe Haven charts as I can to prepare you for entry prices and my thinking towards a particular position......but IF THE CHART IS IN THE SAFE HAVEN FOLDER, I BELIEVE IT IS A SAFE HAVEN ASSET

2. You need to control the negative loop when the pull back comes, this is not easy and we have over 1000 people in this group, we all handle pull backs differently, one person can influence an enormous amount of people.

- I will have a strict tolerance on people spreading negative worries that will try and bring down everyone, that is not how we prepare, when times get difficult, you make a plan, there are always options.

3. Think Long Term. I want to hold $AMZN for at least 10 years, will I want $AMZN to go below $130 so I can heavily add to my position? yes of course I will, I will take full advantage of the opportunity. You need to take this approach, we are a Long Term Investing group, first and foremost.

4. Start preparing. Go through the the Safe Haven Folders and pick the charts that suit you personally, you need to take time to do this, do not wait until it is too late, 1hr or 2hrs over the weekend should be enough to prepare you.

5. Embrace the Pull Back, always have an allocation of cash on hand and take full advantage of the market pull back, we can sometimes wait years for opportunities like this to happen, it is a generational wealth building opportunity.

Our aim here is to conserve our capital and make money.