ACTV - The 'Mag Seven' Components Take Big Hits As Boring May Becoming Beautiful

2024-04-23 02:05:00 ET

Summary

• Friday’s trade makes you wonder if the game is not over for the “Magnificent Seven”.
• There appears to be a real divergence going on between those stocks that are considered economically sensitive and those previously considered ‘bulletproof’ – Big Tech.
• The market seems to finally be getting comfortable that the Fed message of “higher for longer” is not a death sentence for small cap and value stocks, and that ‘growth at any price’ may not be the best path forward.

Friday’s trade… are we entering a new phase of the bull market?

I believe we are. “One size (or group) fits all”, the crowding into a trade like we’ve seen with big technology, can usually work for a while in the market but never is a long-term investment solution....

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