Joe Quinlan: Buy Energy, Sell Tech, Hold Financials (XLE, MOO, XLF, XLK, XLU)
There’s an ongoing debate within meteorological circles as to what determines the difference between a mostly sunny day and a partly cloudy one. It could be something as simple as mood or attitude that determines how a mixture of sun and clouds ultimately gets described but in the end, a seemingly simple word choice can have a profound effect on your plans, your outfit and more.
It’s much the same for investors. Take Joe Quinlan, the chief market strategist at U.S. Trust who is expecting ”good but not great” results from earnings season. In the attached video clip, Quinlan explains how he is positioning himself to win. “If your portfolio does not have some of these key sectors or assets -Energy (NYSEARCA:XLE) or Agricultural commodities (NYSEARCA:MOO)- this is the time, because global demand is pretty robust.”
At the same time he is moving away from, or at least holding off on Financials (NYSEARCA:XLF), which have gained about 35% since bottoming last October. However, should the index of banks, insurers and REITs suddenly slide another 10-15%, Quinlan would step in.
See the full “Breakout” interview below:
Ralated: (NYSEARCA:XLK), (NYSEARCA:XLU)