In a July note, titled "FOMO Rally: Time For Catch-Up Trades; Analyzing Google And 3 Others," I did a back-of-the-envelope calculation on the major divisions of Alphabet (GOOG) (GOOGL) that justified an above-trillion-dollar capitalization. It was only after I had that behind me, and looking at the chart recognizing the typical behavior, I had the confidence to make the assertion. I focused on large-cap growth names that were far from their all-time highs. In my experience when the market moves ahead, you can find laggards that really have no reasons for underperformance. As