Possible Rebalance this Friday OPEXLet's see if this plays out. As per JPM quantitative analyst: ENERGY / MOMENTUM REBALANCE: Energy looks like a buy-the-dip moment. For the past year, long momentum has been synonymous with secular growth/covid winners, and more recently some idiosyncratic themes like crypto, renewables,SPACs, Reddit favs, etc. However, due to the recent rotation out of growth into cyclical/value, coupled with the fact that the Feb '20 COVID sell off is dropping out of 12m momentum signals,the definition of momentum is evolving. 12m L/S momentum is becoming a lot lessgrowth, a lot more pro-cyclical/value. ENERGY will be the largest gainer in 12m L/S momentum (flipping from short to small long). Industrials second largest gainer. Largest OW will now be Cons discretionary, while staples the largest UW. This could be as much as $20bn - $30bn in inflows.