Payne's Perspective: December 4, 2023: The Rally Baton & December
After a November that etched itself into the record books, the first session of December didn’t miss a beat, but it stumbled out of the gate before regaining composure. It was a great week all around.
November saw extreme bottom fishing, where several beaten-down names made tremendous moves.
Last week was paced more by reactions to earnings releases and rotation out of mega-cap tech. The small-cap value was the biggest winner among styles and sizes. It is still the poorest performer year-to-date, which makes it very attractive.
The Vanguard Small-Cap Value ETF (VBR) has a fantastic chart—two breakaway gap openings and surging above the 50 and 200-day moving averages. It seems poised to go much higher.
To read full report contact your account representative or email Info@wstreet.com.
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