Power Play: Don't touch these areas in this market
Stocks are down one percent on renewed concerns about global weakness. Two veteran strategists are not surprised given six straight weeks of market gains.
Janney Montgomery Scott Chief Investment Strategist Mark Luschini, tells CNBC's "Power Lunch" on Monday the narrowness of the recent market rally is worrisome.
"It suggests investors are buying what has/is working, but not broadly buying into this rally- could lead to more turbulence," Luschini said.
Read More The factors behind today's sell-off
He is not chasing materials or industrials in this environment.
Atlantic Trust Chief Investment Officer David Donabedian believes the dollar's strength will make the problems in emerging markets even more challenging and will continue to hurt commodities.
Donabedian is underweight energy and materials. "With materials, you are overpaying there for very slow revenue growth," Donabedian said.
Materials, industrials and energy are all down more than one percent during trading.