Materials. Gold. Silver. Semis. Software. The cloud.
You shouldn't have that many areas going up. I get the precious metals. They are a fear trade, and a weak dollar trade and there are plenty of both. The idea that we may not have a vaccine that works means that we are going to have to pay people a lot longer than many thought. That incenses those who are familiar with what has happened in, say, France and Germany before World War II. Gold was a must back then.
Semis? I think it's a combination of what Skyworks (SWKS) said -- that no one seems to listen to -- on Friday and what Taiwan Semiconductor (TSM) said Monday morning, which has a great read on the whole world. They are smoking hot. Skyworks, by the way, will be on "Mad Money" Monday night.
SAP (SAP) blew the numbers away Monday morning showing you that the software as a service story is on fire -- that's why that group's so strong.
Materials? Housing is on fire, so materials are a decent bet at least for scarcity value alone.
All of these I get. But what I don't want to see is all of these price target boosts for the big techs, the behemoths that were, again, pronounced dead when we got two bad Nasdaq days in a row. The boosts were totally gratuitous, completely unnecessary and what I would do if I wanted to set these stocks up to fail.
I don't think any of the analysts really wants that to happen, but when you get giant target boosts ahead of reports that week, it makes people feel you know something.
Believe me. They don't.