 Good evening everyone Russell Moore coming to you dedicated to financial literacy coming to you again Be sure to hit the subscribe button. I want to say they get that out of the way Ring my bell like my like Muhammad Ali rung his bell and so Yeah, I love this t-shirt As you notice in the background you can see happy birthday my son we celebrated my son's fifth birthday today my son we call him little Bubba and Beautiful beautiful little boy my boy. I'm so proud of him So yeah, we did that today and today's May 1st his birthday is 430 April 30th so Or as he says April 30th So I'm excited You might think why are you excited? I mean, we're gonna we're in a bear market. Yeah We are tame Friday Friday which was the last day for the month as far as the market was concerned Nasdaq in one month down 13 Almost 14 percent 13 percent down the Nasdaq the S&P 500 is headed towards the bear market The Dow has a little bit of ways to go, but it's it's coming to we're definitely Russell two thousand bear market definitely so gang hold on to your hold on hold on We still got those stocks split coming up Google and Amazon And I believe Tesla as well will have a stock split So a lot of people are bailing out of the market right now and just saying you know what I'm I'm selling everything and I'm going to cash or gold or silver and Golden Silver is always a good I think You got some people that are even pulling out of crypto. I'm seeing crypto Having some a little bit of volatility Particularly just weekend Here's what I would say about this current market We're definitely definitely in a bear market bear market basically means when you're trending down You're trending down About 20 percent or more 20 percent more in the market goes down 20 percent or more you're in pretty much in a bear market Now there's some other indicators that you might want to look at and think about as well But for the most part 20 percent You're in a bear market below above 20 percent. So Monday five two, I don't know what the market is going to do I think It's gonna continue on the downtrend. I could be I think it's gonna continue to sell off For those of you that have large positions I think you know some people are like, you know what? I'm gonna take some off the table and I'm going to sell and You know, you always hear this saying among the market traders and Those else are investing and I want to say that Warren Buffett coined it He actually didn't but he's made it famous modern day and that is buy the dip When other people are fearful That's when you get aggressive and when other people are aggressive and going after the market That's when you become more careful and concerned and conservative and You know what I'm saying in other words when everybody's going up you go down when everybody's going down you go up and the Sentiment but I Think we're not done as far as the bear market is concerned. I don't think we're done We may have a couple of days we may have may but we may have a couple of days the beginning of May where we do trend up But I think for the most part this thing continues So get ready Get ready and it's actually pretty good for the market I actually heard Kathy would mention that maybe about a year ago how she talked about, you know Pullbacks and corrections are actually good for the market and I'm still gonna stay stay focused I've pretty much months ago. I got out a lot of equities. I got out of them I still have some but very little I Do possess to in my fidelity count old USA, which is a conglomerate of it's an ETF. That's pretty solid it's got a It's got a bunch of good companies and it is dividends as well So this is a good time to look at some your dividend get some dividend stocks It might be a good time to do that. Also looking at a motor merging up. I'm merging a emerging markets and You know oil oil and gas want to look at that as well But don't panic Don't panic I'm not ready to say the word crash yet I am not ready to say crash even though I said it lasts in the last eight months I think I've said we were headed towards a crash and a Lot of the market numbers are very similar to 2008 and we know what happened in 2000 2008 the grace of recession One thing I want to say about the recession a lot of people are saying that we're you know We're headed for a recession But I've been saying this for a couple of months now. I believe we're in a recession Normally the federal government do not will it's not going to admit recession especially in a year Well, we got an election year 2022, you know We have we have an election coming in New York. I mean in New York. Yeah in New York We do but in November November we have you know, and it's going to be very interesting to see some of these Senate races And how that's going to affect the market now a lot of times it doesn't affect the market too much But I don't know if the Republicans get going and They actually regain the house and the Senate Then the market they tend they tend to be a little bit more pro Wall Street We may see the market Moving in an upward direction So But here's what I would say for this week We're right in the midst of earnings and so keep an eye on the earnings listen to as many earning calls as possible I think even Spotify Pfizer and Moderna all are Reporting their earnings this this week There are some other ones Under Armour just a ton of them. You can just look at a Google earnings This week market earnings you can Google it and you can find a list somewhere and on Google Google has everything okay, so And I would keep an eye on the earnings and find out what companies in this volatile time Which companies are still prospering? What companies are still gay you have revenue growth? Cash flow low debt Management team seems to be not panicking solid staying with the vision and the plan for the company Fundamentals to me is something you want to take a look at right now more than a more than any other time I'm not saying that the technicals aren't important They are for the short term trader or investor But for those of us that are more long-term It's now about What are these companies doing? Which companies are gonna last when the smoke clears which companies are gonna last and so? That's gonna be it for me. I know and you guys have been on a kind of a little bit of a hiatus the last couple of weeks But I'm back. I'm back, you know Hey, I am not losing hope on the market not no, no, no, no I'm just waiting for the right time Waiting for the right time to enter so keep your eyes on these indicators look at And open up your scope of what you look at as far as stocks Don't just stay with what you know, but look beyond and start divvying out and looking out Heading out and expanding your horizons as far as what type of stops you're looking for and even markets You know talking to someone today and my son's birthday party At one point now near the end of the party. We were chit-chatting and he talked about The Euro and how the Euro has been taking a dive well that can affect a lot of things as far as emerging markets So but particularly because of the the war in Ukraine in Russia The EU is plunging I'm gonna take a good look at that tomorrow So because what happens in other parts of the world and other markets Definitely can affect us and vice versa what happens in our market the US markets can have can affect other countries and you know emerging Markets so and also that's all right. Keep an eye on China Keep an eye on China the China stocks. I'm telling you guys. I'm still very confident that the Chinese stocks The EVs The Alibaba's the Tencent keep an eye on JD keep an eye on these companies I don't think it's over for them I Did a video on it? Please take a look at it. I'm not gonna go into all the reasons why I think that market is gonna it's gonna pick up and It'll be some profits to be made in some of those In the Chinese market, I still believe that other people may be bearish on it. I'm bullish on China Okay, so Anyway, I want you to have a wonderful week Yeah, what do I always say if you do not learn you will not burn We just left financial literacy month April and I wanted I want to tell somebody, you know, she ever be everyone look check out Your budgets I Kind of feel that that people are gotten away I've gotten away from their budgets and they're starting to lose discipline On their spending. So I want to just tell you take a look at your budgets. See where your money is going Watch where your money is going. What are you spending your money on? Are you overspending? Are you are you reducing some of your? Are you reducing some of your expenses? By Netflix a lot of people are saying by the Netflix right now. So look at your subscriptions check them out and See if there's things that you can live without for a season Another thing pay off your debt Attack your debt like never before attack your debt like never before attack your debt like never before All right, the economy is definitely slowing down people say we're heading for a recession I think we are in a recession Not to scare you But you're gonna be okay. You're gonna be fine. You know why? Because you're an innovator You know why? Because you're great and you're wonderful And god bless you And you're gonna make it and it's gonna be okay All right, no matter what this market says you're gonna outlast the market See ya