Despite the correction, markets still look good, according to father-son duo Harry Clark, founder, president and CEO of Clark Capital Management, and Sean Clark, CIO of Clark Capital Management.
“There’s nothing wrong here and [stocks] look very good in our opinion,” Harry Clark told CNBC.
However, Harry Clark said the correction has been keeping investors from jumping into the markets, with only 35 percent of the public invested, compared to the typical 55 percent.
In the meantime, Sean Clark said the market is currently in a “rotational correction.”
“We’ve seen volume on down days be heavier than volume on up days,” he noted, “and that’s a concern. That means we have more correction to the downside left until the market establishes its base and, I think, the market eventually moves higher.”
Harry & Sean Clark Both Favor:
Harry & Sean Clark’s ETF Picks:
IShares DJ US Medical Dev
IShares DJ US Pharma
More Market Intelligence:
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CNBC Data Pages:
Clark Capital Mgmt. owns positions in MCD, PG, KO, WAG, F and GM in managed accounts.
Harry Clark personally owns shares of F in his accounts.