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Morning Commentary

Super Cycle

By Charles Payne, CEO & Principal Analyst
2/22/2021 9:21 AM

There is a sense the market is becoming more defensive.  Another way to look at is what’s occurring is the offense is looking at new areas. 

It’s not that Technology and Communication Services are outcast, but investors are in search of new areas for bigger returns.

The winners on Friday underscore this shift, which has been very stealthy, but is now becoming more pronounced.   I’m referring to the commodities super cycle, which seems focused on oil, crops and industrial metals.

These areas outpaced gains in several S&P 500 sectors:

S&P 500 Index



Communication Services XLC



Consumer Discretionary XLY



Consumer Staples XLP



Energy XLE



Financials XLF



Health Care XLV



Industrials XLI



Materials XLB



Real Estate XLRE



Technology XLK



Utilities XLU



Portfolio Review

We are adding to Industrials this morning and are now fully vested.


Today’s Session

The yield curve continues to surge, and I suspect its creating a more cautious environment for stocks.

Meanwhile, the move in commodities still has a long way to go from here.


Wow, your call on NCL cruise lines was awesome, what a call!

John Coutinho on 2/22/2021 11:08:29 AM
Thanks Charles. Always great!

Lorin K on 2/22/2021 12:49:09 PM

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