As many continue to ponder whether “value versus growth” debate will have legs for the former, one has to give credit where it is due. For example the materials group is now the best performing major S&P sector on a one and three month time frame (second on a 6 month look back period too), and the XLB was the only sector of 11 that CLOSED the past week higher. On a more myopic view the XLI was the best performing group on Friday, and this area has seen some rotation as well, as capital is separated from technology. In a bifurcated group who would have thought that FDX would be on a current 10 of 11 week winning streak, beginning with a nearly 20% WEEKLY gain the week ending 7/3 in double average WEEKLY volume. ODFL is higher by more than 50% YTD as it grapples with the round 200 number, and NSC trades just 1% off most recent all time highs. Maybe one should start looking for the lower prong of names in the barbell approach (airlines) to start playing meaningful catch up? With Christmas no far away, John Candy, the star of Planes, Trains and Automobiles, would have been proud if the JETS could find some flight (automobiles not so sure I could have seen him in an EV GM vehicle).