By: Steve Smith
Monday saw one of the largest rotations in years as money managers shifted from growth into value stocks. Was this a sign of renewed caution concerning the global economy? Or simply a prudent rebalancing, heading into the fourth quarter.
Despite no apparent news numerous of this year’s best-performing stocks got hammered, many down over 10% or more on the day.
The selling was focused in growth names, especially technology and specifically cloud-based companies. They were both relentless and seemingly insensitive to price or technical levels.
This suggests that… Continue reading at StockNews.com