2022 has come to an end with a collective “Thank Goodness!” There’s just no sugarcoating it; 2022 was a brutal year for those who were long stocks. This was particularly true for those who stuck with technology stocks, with the tech-heavy NASDAQ falling 33% for the year.
The carving up of tech-related companies reminded many of the dotcom bubble that started in March 2000 and ended in October 2002. It’s not that the NASDAQ tanked like it did back in that early 2000s timeframe, but we saw MANY tech stocks fall 50-90% from their respective highs. And the poster child that was carved up by 2/3 in just the past three months – Tesla (TSLA) – has lost close to 70% of its value since its November 2021 high.
The good news? 2022 is OVER! Which brings me to what might come next as we get ready to enter 2023.
I bring this up as EarningsBeats, in conjunction with StockCharts.com, will be conducting a timely and critically important event on Saturday, January 7: “Market Vision 2023” During this event, our Chief Market Strategist Tom Bowley will be joined by StockCharts.com experts as they discuss how to distinguish between bull and bear markets, the secrets that drive market performance and where equity markets are heading in 2023, including which sectors and industry groups are likely to lead the way. You can learn more about this FREE event and save your seat by clicking here. You DON’t want to miss it! And make sure you scroll down and click on the “The Road Ahead: Navigating an Uncertain Market” page to see Tom’s track record, which has been awesome.
One thing I’ve learned in my 35 years of trading is you can’t do anything about the past. Once a trade is in the books, it’s in the books. But you can take the knowledge you’ve learned from each and every trade and apply that to future trades for positive outcomes. On that note, here’s to a highly prosperous 2023, for one and all!
At your service,