Sharp market rotation may be winding down

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. Stocks were modestly lower Thursday, extending the S & P 500 ‘s losing streak to five straight sessions since last week’s record high. The acute market rotation over the past two days out of stocks with premium valuations appears to be easing. “It usually takes about three days for these rotations to play out. But it looks like it might be a day and a half,” said Jeff Marks, director of portfolio analysis for…