The U.S. stock market has started to feel the heat of summer in some corners.

Back on April 9, I talked about a “Great Rotation” away from momentum plays (e.g., biotech, Internet, small-cap growth, etc.). Where did the smart money go?

The Small Cap Growth style ranks tenth out of the twelve fund styles as detailed in my Style Rankings for ETFs and Mutual Funds report. It gets my Dangerous rating, which is based on aggregation of ratings of 11 ETFs and 455 mutual funds in the Small Cap Growth style as of April 23, 2014.

Whatever happened to the “Great Rotation?” You remember the predictive theory that ultra-low yields would encourage investors to rotate out of bonds and into stocks.