Peter Sorrentino, senior portfolio manager at Huntington Asset Management, said investors should not be scared to invest in the market in September. He shared his sector and stock plays.
“There’s been an awful lot of restructuring of the U.S. economy and we could see the market running to 1,100 on the S&P without too much trouble,” Sorrentino told CNBC.
“I am cautious, I do believe it’s a bear market rally and I don’t want to get too optimistic or complacent in it, but there are opportunities out there.”
Sorrentino said he is trying to focus on companies that have both pricing and volume growth. He told investors to look for new sector leaders to emerge in September.
Sorrentino and his firm own shares of Valero, Texas Instruments and Olin.