Payne's Perspective: January 30, 2023: Not Cocky, Yet
In many ways, last week was the best of 2023 in part because the bears warned investors to brace for a reality check as earnings releases would ramp higher - and more economic data would bring the current mission of the Federal Reserve into greater focus.
All those things did occur, and the nascent rally was tested.
And the rally passed with flying colors.
The script is a familiar one, as we are seeing the prophecy of the last being first play out in real-time. The shift from safety went into a high-pace, as urgency to find fast money opportunities is the kind of beast that always feeds on itself.
But most interesting is that right now, chasing hot stocks and seeking value can intersect with many of the same names after much froth was removed from high Beta names once proven moneymakers.
To read the full report contact your account representative or email Info@wstreet.com
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