Roger Nusbaum submits: Scott Wren from AG Edwards just made a case for large cap on CNBC, but admitted they have been wrong so far about the timing of the large cap move.
The case is compelling and has been for the last couple of years. Compelling does not equal right. A lot of the strategists favor the large caps, which might be part of the problem.
An ongoing discussion for the last day or two has been about parts of the market rotating back into favor eventually. Major rotations tend to happen when people don't expect. It seems like a lot of folks expect large cap to do well, which is maybe why it won't.
At some point the gang may give up on this part of the market and that might be a better time to go a little heavier here. For now I think Johnson & Johnson (JNJ) might be the only domestic mega cap I own for clients -- at least it is the only one that comes to mind right now. I do have foreign exposure above $100 billion with British Pete and Novarits, to name two.