Cyclicals
Growth/Value/Cyclicals
Growth Outperforms Value In February.
Growth/Value/Cyclicals
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Small Cap Growth Outperforms (On Relative Basis) In Down Month
Growth/Value/Cyclicals
Growth Stocks Best In All Three Cap Categories.
Growth/Value/Cyclicals Market Internals
Growth Stocks Lead YTD In All Three Cap Categories.
Large Cap Growth Bounces Back The Past Two Months
Growth stocks are now all above their historical average valuation levels. Value stocks are all solidly overvalued compared to their recorded averages.
Cyclical Stocks: Is It Finally Getting “Late?”
There’s no reason to run for cover if the Early Cyclicals have topped out.
Growth Continues Leading In Mid And Small Caps YTD, Large Cap Growth Bounces Back
All three cap tiers of Growth also now ahead for the YTD. Growth stocks are moving towards their his- torical average valuation levels, with Mid Cap Growth now being overvalued. All Value stock segments continue to be solidly overvalued.
Growth Continues Leading In Mid And Small Caps YTD But Lags In Large Caps
Growth’s leadership over Value has only been apparent in Large Caps, but this segment had a big short-term reversal in recent months. Large Cap Cyclicals (+7%) significantly lag Large Cap Growth (+17%) YTD.
Growth Leads In Mid And Small Caps But Lags In Large Caps
Growth’s longer term trend of leadership over Value has only been apparent in Large Caps, but this segment had a big short-term reversal in Q2 and July.
Another Walk On The Short Side
In mid-May, we re-initiated a short position across all three tactical funds in U.S. Treasury bonds.
Is It Too Late To Buy The “Early Cyclicals”?
One of the great contrary trades in recent memory may well have been the Consumer Discretionary stocks during the last recession and early in the recovery. The consumer had been written off, but these stocks have been the clear market leader. It looks, however, like the move may be running out of steam.
Cyclicals: Getting All The Respect Of Financials
The Morgan Stanley Cyclical Index: a group we didn’t recognize as a bubble two years ago (and we suspect we’re not the only ones), but one that meets the minimum requirement for “membership” by declining at least 70% from its high.
We're Bullish (And Hoping For “Small” Gains)
Improving cyclical leadership could be signaling that the bear market is in its final stages. In 10 of the 12 past bear markets, cyclical stocks turned up prior to the conclusion of the bear.
Cyclicality Adjustment Made To Leuthol dGS Scores In December
Explanation of Cyclicals Adjustments made to GS Score methodology.
Cyclical Stock Dominance — How Long Can It Persist?
An in-depth examination of performance relative to Growth stocks; what has been typical in terms of leadership duration; and how the economy and inflation may affect the current trend.
The Mixed Month Of May
The S&P 500 eased 2.5% in May, while measures of smaller cap stocks edged up 1% to 2%. Major Trend Index has shifted to negative status. Dow Jones 40,000?
Have Cyclicals Become the New Market Leaders?
There were unprecedented sudden and dramatic changes in market character in April. Have Cyclicals become the new market leaders? Is Value investing finally going to start paying off again? Is the extended period of small cap underperformance finally over?
Why We Are Buying Big Cap Growth Stocks Now
Big cap growth stocks appear to be in the early stages of regaining leadership from the “tired” cyclicals and “overvalued” value stocks.
In Search of Blue Chip Growth Stocks
Growth stocks have been out of favor over the past 3-4 year, but look poised to regain leadership over the next 6-12 months.
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