The Consumer Discretionary sector is up 21% in both the Standard and Poors 400 and the Standard and Poors 600 year to date, and is the leading sector in the Standard and Poors 1000 (comprised of the 400 and the 600). In fact, the sector was up 30% in the smalls (S&P600) for the month of April.
Much of the rally was predicated on the relief that the world might actually survive. But I am mystified as to why the Consumer Discretionary sector, which hadn't been hit as hard as a number of other sectors, would lead us out. This, of course, is not surprising, given that I'm not a believer in a strong and/or uneventful recovery.
But it is what happens when the market sees light at the end of the tunnel. Note to self: Remember to get on board with the early cyclicals when there is no hope.
For the record, I'd be looking to take profit in that space if I had anything to take profit in.
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