Goldman Sachs: Still very long, but not as long as just a few weeks ago. Just shaving, or a start of a significant sector-rotation?

“After significant long buying in September and early October, hedge funds have started to sell FAAMG again Collectively as a group, FAAMG has been net sold in five of the past six days (8 of the past 10) on the GS Prime book, driven by long sales as well as short sales. The group’s aggregate long/short ratio on the GS Prime book now stands at 20.65 (-4% MTD, +88% YTD), which is in the 86th percentile vs. the past year and in the 79th percentile vs. the levels seen since Jan ’17”