There's nothing going on in US equities, other than portfolio re-adjustments following a general realisation the herds had once again moved too far into one...

There's nothing going on in US equities, other than portfolio re-adjustments following a general realisation the herds had once again moved too far into one direction.?To be fair, it does happen that all there is to a sudden shift in general sentiment is one such simple and straightforward explanation. Most times, however, there's more to it, even if it's not always immediately obvious what other factors might be exerting their influences behind the daily market chatter.?In this case, I have a strong suspicion the shift out of wildly speculative growth stocks and into more defensive value and yield assets has been triggered by a general realisation that profit growth for corporate America may have hit a snag and that seems but a genuine reason to pause for a share market that has arguably been on a tear since early March 2009. More at (VIEW LINK)


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