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Hello. Is this the right reaction . Last thursday, cyclicals began to rally. We questioned whether it was the time to make that rotational call. So far, the bond proxies, consumer staples, utilities, theyre outperforming the cyclicly oriented type names. You come in this morning, you question whether you want to get back where you have the exposure to the cyclicals. Ive stayed with financials. I think thats the right play. Then the other question is what do you do with global cyclicals, which have far outperformed domestic. Is there more runway there . Do global cyclicals continue to outperform . Thats the question. What is your answer . The answer to that for me is dont leave the financials. The financials remain the biggest source of opportunity, both on a valuation basis on opportunity to drive earnings growth. To me, thats the one i stay with. There are others that i think are suspicious and questionable. I like joes calls on cyclicals. Theres a big question we just dont know the a ....
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