I was just getting to post the same sentiment re: rotation, but you beat me to it. Except you're the institution, and I'm the guy on the street. I'm long NH and short AMZN, so I noticed.
my reason to sell half my portfolio a month ago,
that there is no way this market corrects without everything
correcting.
Jim, you've made good calls in the past. But long-term do you really see yourself a market timer forever? There were lots of good companies for sale. You knew it. SO CHEAP in fact that I had to speculate a few days ago that your view might not turn true, but that instead we may actually get the narrow leaders crashing while our value stocks rise. The sheer suicidal frustration of value investors tipped at least me off to this, but also the valuations. What made you think that the REITS would get cheaper? That Ag equips could get cheaper? That manufactured housing would get cheaper? And even if they did, no biggie because it wouldn't be sustainable.
Brazil was also up big today. Value will out...
I did have one stock down big for me today. Deswell. That piece has been one huge ball and chain around my foot. Still gotta believe.
And over on TheStreet.com, Cramer is saying he's buying into internets and selling his cyclicals. Selling his cyclicals? Who's he kidding? Just trying to look good for the cameras.
Ironically, I was hoping that this wouldn't happen yet. I've been putting together an investment limited partnership over the last few weeks, as the market made new highs and value stocks got cheaper. It's taking a while to get my ducks in a row.
Here's hoping the rotation is temporary,
Mike |
