Beta Trade Is Waning

This current rally is not progressing at the same rate as earlier ones,according to Carter Worth of Oppenheimer.The good eating's been had.We're not getting quite the torque that you would anticipate,given the news.The market keeps bumping up against 1100 on the S&P.People are rotating out of the beta trade-the speculative trade-into the more established,recognizable names.It's a maturing of the rally,Mr.Worth believes.
Everything is starting to participate,in Carter Worth's view.That's where you get into the stall speed.You should double back and pick up large cap laggards such as Wal-Mart.2003 was a big recovery year.By 2004,hyper-correlation broke down.We think this everything trade starts to break down in 2010,Mr.Worth noted.
In fact, the S&P did break above 1100 this morning.It remains to be seen,though,if it can close there.