A Flight From Safety

There's a monster rotation going on, truly huge, and I think it is related to a potential darkest-before-dawn Europe trade as well as a recognition that perhaps Obama is going to win big and there will be a higher tax on dividends.

The combination of "safety last" and aggressive buying of cyclicals and growth stocks can be seen all over the place. Kimberly-Clark (KMB) reported a beautiful upside surprise last week, and it has been sinking like a stone. Emerson Electric (EMR) reported a downside surprise, and it is rallying. Joy Global (JOY), which has been horrendous, is rallying hard, along with the steels and the metals. But there's profound weakness in Church & Dwight (CHD) on a miss, and that's a fabulous company. Plus, the chartists are having a field day, because now all of these look like head-and-shoulders tops, while the cyclicals look like head-and-shoulders bottoms....224 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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