Rotation out of Tech...
Re: I kept hearing them talk today on CNBC about the funds moving out of techs and into cyclicals and it was bothering me, although I can't believe it.
violatrader, I think this is what they were talking about, (note the huge volumes in the big name techs):
Friday's percentage move......Friday's volume......Normal volume
CSCO.....-3.80%.............27,212,500........13,506,772
LU...........-2.79%.............10,956,500..........6,120,909
MSFT.....+0.59%.............31,986,300........13,442,818
CPQ........-3.06%.............21,555,400........12,798,454
INTC.......-1.97%.............33,764,100........14,104,272
AMAT.....-1.72%.............14,175,700..........7,019,545
ORCL......-3.64%.............13,507,700..........7,863,863
DELL.......-1.89%.............35,630,500........17,071,680
AA..........+3.24%...............2,501,600............844,818
CAT.......+4.82%...............2,448,600..........1,609,500
XON......+2.69%...............5,111,500..........3,436,909
MOB......+3.13%...............2,720,400..........2,143,136
RD..........+3.32%...............2,561,000..........1,940,045
TX..........+7.49%...............4,361,300..........1,847,590
CHV.......+2.52%...............2,769,400..........1,177,363
MOB......+3.13%...............2,720,400..........2,143,136
For the reasoning behind it I think we have to look no further than the steep rise the techs have made since October. (JMO)
Best wishes,
Tom
(no current position in CSCO) |
