So just for fun I'm going to plant this stake in the ground with television's “chart master” Carter Worth's call from last week.
I track him and others regularly, and though his methods are amusing, I'll be darned if he doesn't have a pretty good track record.
So I'll post this and track it over the next month to see how it plays out.
He cited his common theme of looking for sector charts that have risen too much, and swapping them for those that have fallen too much. Simplistic, but whatever.
His call for October was that energy especially had been straight up uncorrected, and was time to “take measures” meaning sell, short, raise cash, take profit. Same with tech.
His oversold sectors to deploy the capital from those are Financials, staples and utilities.
Based on emphasis, he was essentially saying swap your energy stocks for financials.
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