Ag and Tech Horsemen Get A Haircut
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Today, some of the strongest stocks over the the past year, like agricultural and the tech horsemen, are taking it on the chin. This is happening while the S&P's weakest group, financials, see a rally.
Some ag names like Monsanto (NYSE: MON) and Mosaic (NYSE: MOS) are down 8% and 9% respectively. The tech horsemen like Google (Nasdaq: GOOG), Apple (Nasdaq: AAPL), RIM (Nasdaq: RIMM) are down between 2% and 4%.
Are traders moving money from the horsemen into financials? Or, are traders covering shorts on financials and selling what they can? The later makes more sense as recession concerns engross the financial press.
Some ag names like Monsanto (NYSE: MON) and Mosaic (NYSE: MOS) are down 8% and 9% respectively. The tech horsemen like Google (Nasdaq: GOOG), Apple (Nasdaq: AAPL), RIM (Nasdaq: RIMM) are down between 2% and 4%.
Are traders moving money from the horsemen into financials? Or, are traders covering shorts on financials and selling what they can? The later makes more sense as recession concerns engross the financial press.
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