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Stocks barely budged on Wall Street, ending Friday mixed. The Great Rotation advanced as investors bet on an economic recovery. They sold tech shares that have rallied throughout the health crisis like Facebook and Netflix and bought Deere, Caterpillar and other economically sensitive cyclical stocks.
Mercadien Asset Management president Ken Kamen says investors should take some profit on tech stocks and invest more in value and cyclical stocks. It s not that we ve we are abandoning growth or suggesting people shouldn t but I think it s time to pare that. I mean the markets just doing so well and a lot of these growth stocks are priced for more than perfection.