People are racing to get into this market because they’re afraid to be the last bear standing, said Dan Genter, president, CEO and CIO of RNC Genter Capital Management. He shared his views on where investors should be putting their money to work.
“The big concern about September swoon has just been washed away by a tidal wave of excess cash on the sidelines,” Genter told CNBC. “As we go forward, the basic foundation that has been driving this market for the last two quarters is still here—that’s very strong. It’s accelerating earnings momentum and that’s not going to change.”
Genter said investors should look for opportunities in the technology and consumer cyclicalsectors.
“We’re going to have some run in technology,” he said. “We’ve had a big run there but when you look at the world demand that we’re going to have, and we’re going to have a better Christmas than we think … I’d have some interest at least until November in consumer cyclicals.”
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No immediate information was available for Genter or his firm.