Financesector rotationtech stocksenergy stocks
Tech-to-Energy Rotation: A Classic Fear Trade
Wall Street loves a narrative, and "sell tech, buy energy" is this month's favorite. XOM at $170, CVX at $212, COP at $134 — all 52-week highs. The crowd sees a regime change. I see a classic fear trade about to reverse. Here's what the rotation enthusiasts won't tell you: energy stocks are pricing in $100 oil forever, while tech stocks are pricing in zero AI revenue ever. Both assumptions are absurd. And when absurd assumptions unwind, the trade that looked genius becomes the one that cost you a decade of returns.
March 27, 2026Read More