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There's been a seismic shift in the markets in the last few weeks. How to play this sudden new era?
Jason Trennert of Strategas Research Partners and Doug Mackay of Broadleaf Partners offered their revised sector and stock picks.
"In a deleveraging world, cash is king," Trennert told CNBC. he believes leadership is over for basic materials and energy, thanks to the solwodown in the once-hungry emerging markets.
Recommendations:
Trennert is now sector overweight on technology, citing the generally "pristine" balance sheets: low debt and lots of cash. he also likes consumer staples.
Mackay agrees on tech's ascendancy, noting that technology firms can adapt to changing market trends via "innovation" -- and aren't dependent on dried-up bank financing. He likes Google [GOOG
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].
Mackay also praises health care -- naming Intuitive Surgical [ISRG
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] -- and consumer discretionary. The latter is poised to gain on falling oil prices, he says; he recommends Chipotle Mexican Grill [CMG
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], Harley Davidson [HOG
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] and Walt Disney [DIS
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].
Disclosures:
Disclosure information was not immediately available for Trennert, Mackay or their respective companies.
Data is a real-time snapshot *Data is delayed at least 15 minutes