Scott Maragioglio (212-692-6392) smaragio@epiphanyresearch.com
If your not feeling the full benefit of this rally over the last month it probably has something to do with your sector selection. The fact is that I would be surprised if you were in the best performing sectors over the last 40-day period. The best performing group was biotechnology, followed by insurance, wireless, specialty retail, telecom, internet, and industrial materials. The only sector out of this group I've heard real interest in has been insurance. The rest of these sectors, especially biotech, wireless, telecom and internet have been treated as interesting anomalies at best. I hear more talk from the bulls and the bear on semiconductors and energy then any other sectors.The semiconductor sector has been flat since September and the energy sector has been net flat since February. This is a good example of how our biases have us looking in the wrong place sometimes.
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