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Power Play: Avoid these sectors this year

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

The major averages are in or near a correction in January, raising concerns that the bull market is over.

But Rob Lutts, president and chief investment officer at Cabot Wealth Management believes any correction of 3 to 5 percent is a buying opportunity.

"The public has not participated in the last 6 year bull market. The stock market continues to climb 'wall of worry.' Path of least resistance is still up," Lutts said.

Read MoreStocks struggle for gains; health care, materials weigh

Despite this bullish view, Lutts is avoiding three sectors right now: utilities, materials and telecommunications.

"Electric utilities will be challenged by alternative energy [and] slowing global growth is weighing on materials," Lutts said.

As for telecom, Lutts sees stiff competition from disruptive technologies.

Utilities and telecom are higher during trading, while materials is lower.