We might get a continued underperformance of technology and economically cyclical areas.
Those in more cyclical areas, that have been the driving force of the rally, will find 2010 a more difficult year".
Historically, he notes, the stocks that fare best in a new bull market are found in economically cyclical areas, which would lead investors to the tech, financial services and consumer discretionary sectors.
But we do tend to see that the more defensive areas of consumer staples and health care hold up better than the more cyclical areas of the market.
And while the industry grapples with the loss of readers and advertisers to new online platforms for news delivery and classified ad sales, Pruitt said much of the advertising downturn is in cyclical areas, like real estate, and will eventually recover.
In our sector letter, I have a few, mostly in the consumer non-cyclical area.
Mr. Miller, a voluble man eager to share his thoughts on the market, says he has been preoccupied with his failure to invest in energy, materials and global cyclical stocks — areas that have prospered despite the current crisis.
For each node within relevant area, cyclical formula 4 and 5 are used as merits of priority measure.
In keeping overall profitability high, it helps to have a balanced system, where seasonal or cyclical strength in one area can compensate for weakness in another.
The geomorphic changes in such areas are cyclical largely with respect to the destruction of relict features exposed to the system as the morphogenic areas move and also with respect to the creation of landforms and deposits in morphological equilibrium with the new system.
