Is today's rotation for real?

Discussion in 'Trading' started by Chartiste, Nov 12, 2007.

  1. Financials like C, WFC and MER are soaring 5% on good volume (especially for a semi-holiday) while recent tech leaders RIMM, AAPL, GOOG and NVDA are experiencing real selling pressure. Does this rotation have legs or is it just a two-day wonder?
  2. 2 days is a bit early to tell, but I agree there are initial signs now of a possible rotation. IMO just watch the action for the rest of the week, that should give you your answer. If the gogo stocks don't recover their outperformance by Friday then they are toast IMO.
  3. No.

    People are selling the recent winners because they have profits - and need them to pay for some of their recent losers.

    It's Monday, a sure sign that there were margin calls over the weekend.