S&P 500 paces for worst September since 2011. Here are the groups one strategist would be buying
notching their third weekly loss in a row. The S&P, down 1.5% in Monday's premarket, is on pace for its worst September since 2011.
"That rotation right now is in a kind of violent phase," he said. "Our view is you want to use weakness over the course of the next couple of months in order to add overall to equities, but we think you want to add in value, small caps and international stocks." "When you get to the first quarter of next year, ... you'll have a president, we think you're likely to have a vaccine, you're likely to have an economic recovery that's a year in and companies are very likely to face very easy comps on a year-over-year basis," he said. "But between now and then, we expect to see some choppiness as the market rotates, and we would use that as a buying opportunity.
"But like Steve was saying, there's going to be some volatility here in between and I think that's what we're ultimately seeing," he said in Friday's interview. "If you look at the chart of the S&P 500, we broke out above the prior highs we had seen in February. Now we're starting to come back in underneath that. Technically, that's a sign of weakness, when you start seeing those breakdowns below those prior highs.
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