Payne's Perspective: May 30, 2023: Ready for (Real) Liftoff
My goodness, what an emphatic week it was for Technology (XLK) stocks. But then again, it’s been an emphatic year for Technology and mega-cap names that most Wall Street experts wrote off.
I realize those same mavens are retooling their argument against mega-cap names, which will include the same rationale for now owning them in the first place; other messages will be repackaged and delivered in ways that will even attempt to make those stock-owning folks think they are not being too bright.
That perch is high, but the air is thin, and humility is non-existent.
The market is the market, and dismissing the moves because they don’t fit a certain criteria or agendas is a luxury only well-paid Wall Street folks can afford.
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