Cosmo,
You are being facetious, right? "Joe Retail" hasn't even begun to buy into cyclical...he's still stuck with a portfolio full of AMZN, AOL, CPQ, etc., bought at the highs, thinking "well, I know I'm down 30% in the last month, but these things will come back..." Famous last words.
I'm not saying this move to cyclicals is a new long-term trend; rather, I just think it's funny that a sector that has been so beaten down and out of favor for so long plays catch-up with the rest of the market, and the guys left holding the Internets are so quick to cry foul. The market neophytes are learning (the hard way) about sector rotation. And they're also learning the hard way that the Greater Fool Investment Theory doesn't always work.
And no, I didn't get sucked in, but thanks for asking.
Gary |
