Traders work on the floor of the New York Stock Exchange.
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Stocks are sliding on Friday, with the major averages on track for its first losing week in 3 weeks.
Gina Martin Adams, institutional equity strategist at Wells Fargo Securities, tells CNBC's "Power Lunch" on Friday it may be time to start snapping up some beaten-up stocks at these levels.
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"Shorter term, investors may find a trading opportunity given extremely oversold conditions evident in financials and extremely overbought conditions in telecom," Adams said.
Longer-term, Adams sees commodity risk ebbing this year, leading to better performance for cyclical stocks.
Financials are lower during trading, while telecom stocks are higher.