I’m getting sick of hearing that the market needs to correct further to price in inflation, rates, reversal of Fed policies, and also the Covid growth bump.
From what I have seen, all those Covid winners, high growth tech stocks have already corrected many times over. Hell, even the Nasdaq has corrected 13.5% this year.
Looking at stocks that blew up during Covid and where they are now:
1. Pins down 70% last 12 months
2. Uber down 42% last 12 months
3. Roku down 68%….
4. Zoom down 66%…
5. Docu sign down 54%…
Tech has corrected for the most part. So I will be watching earnings to see how google, Apple and Microsoft go. I have a feeling they will do well. I think overall the market is in reasonable shape because of the corrections. Will it go down a bit more this year? Sure, but in my opinion the bulk of the damage has been done.
I’ll be buying more.
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