The market's most recent embrace of cyclicals is nothing new. In fact, key industrial stocks began o...
The market's most recent embrace of cyclicals is nothing new. In fact, key industrial stocks began outperforming the index on both sides of the Atlantic during the slowdown phase of the world economy in late 2000 and have continued as the concept of recovery has gained credence with every passing set of economic data. In stock market terms, we could already be in the second phase of the recovery. The first phase, and the sharpest rally, occurs as sentiment extremes are corrected and liquidity comes back to the system. The second comes as confidence improves and companies take advantage ...
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