It is that time of year where we look at setting up trades that will give us nice wins as we wrap up the year. But we are also looking for the trades that we can use for our longer term portfolios. If you are self managing a retirement account, your horizon may be longer than your typical quick grabs that you use each week.
The trades we are looking at for 2023 are not going to be a surprise as we have been looking at them all year. They definitely out performed the market but still have more gas in the tank and are setting up to be great potential buys as we head into a new year.
Clean energy has been one of our favorite go tos. As we look at some of the best ways to trade this sector, especially in a longer term position, there are a couple ETFs we have looked at that become great candidates.
Here are a few to consider:
TAN has been a favorite and it has seem the chop the rest of the market has seen but it has also been in a gradual uptrend.
ICLN is another way to grab a chunk of the growing alternative energy wave. It is based on companies related to solar, batteries, and the manufacturing of clean energy equipment.
IDRV is more specifically focused on EVs. It is currently feeling the gravity of Tesla’s drama but is a way to grab the momentum in this sector with a little less risk than trying to peg when Tesla will rebound. by diversifying the holdings across many EV related companies, it is less vulnerable to Elon’s Twitter circus.
To see other ways to set yourself up for a successful 2023, check out Keith Harwood’s Market Maker Cheat Sheet. He hands over the secrets of a journeyman who did his time on the trading floor and learned the tricks the market makers use against you. This is a great way to steal their edge. Check it out here.
Keep learning and trade wisely,
John Boyer
Editor
Market Wealth Daily
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