The year 2022 ended with a common “Thank God!”. There’s just no whitewashing; 2022 was a brutal year for those who held stocks long. This was especially true for those holding onto tech stocks, with the tech-heavy NASDAQ falling 33% over the year.
The dismemberment of tech companies reminded many of the dOtcom bubble that started in March 2000 and ended in October 2002. It’s not like the NASDAQ crashed like it did back in the early 2000’s, but we’ve seen MANY tech stocks fall 50-90% from their respective highs. And the flagship stock that’s been chopped up by 2/3 over the past three months — Tesla (TSLA) — has lost nearly 70% of its value since its November 2021 high.
The good news? 2022 is OVER! Which brings me to what may be next as we prepare to enter 2023.
I mention this as EarningsBeats in connection with StockCharts.comwill hold a timely and extremely important event on Saturday, January 7th: “Market Vision 2023” During this event, our Chief Market Strategist Tom Bowley will be joined by StockCharts.com experts who will discuss how to distinguish between bull and bear markets, the mysteries that drive market performance, and where the stock markets are headed in 2023, inclusive which sectors and industry groups are likely to lead the way. You can learn more about it FREE event and secure your place by clicking here. You don’t want to miss it! And make sure you scroll down and click on The Road Ahead: Navigating an Uncertain Market page to see Tom’s impressive track record.
One thing I’ve learned in my 35 years of trading is that you can’t do anything about the past. Once a trade is on the books, it’s on the books. But you can apply the knowledge you’ve learned from each and every trade to future trades for positive results. With this in mind, here’s to a successful year 2023 for everyone!
At your service,
John Hopkins
EarningsBeats.com
