November's extraordinary gains have some investors looking for a pullback, but strategist say a serious one could be avoided for now.
Promising vaccine news spurred a major rotation in November into cyclical stocks, like industrials and financials - the stocks that will do well in an economic recovery."If it's up more than 10%, it will only be the third time since World War II that November has been up that much," said Sam Stovall, chief investment strategist at CFRA. "Such a strong November has a tendency to steal from Santa.
But Katie Stockton, Fairlead Strategies chief technical strategist, said it's more likely the market will instead gain momentum from the stocks that have been dragging.
Trump is still your President! And the rally is happening due to the Trump vaccine! If Biden gets in, he'll order a protracted national lockdown and the market will CRASH, just like it did in spring 2020! FactsMatter!
We're in the money!🕺💃👏👍🥳🎊🎉
The big tech crash is coming !
FAANG IS COMING TO TOWN
Really.