Two strategists, Stephen Wood at Russell Investments and John Manley at Citi Smith Barney, shared their market rebound strategies with CNBC.
“Health care is a good place to be,” said Manley. “Biotech [stocks] are cheap, and some of the big pharmaceutical companies have done nothing good for eight years. [Although] there’s a general fear that you don’t want to own any stocks before an election, when I see a consensus that rock-hard, I think there may be an opposite side to it.”
Wood, however, disagreed with Manley.
“I’m not as convinced with the election trade as a lot of people are,” he said. “I’m waiting for a lot of specifics from both candidates, but making big bets based on an election year may not be a good idea.”
Disclosures:
Disclosure information for Stephen Wood and John Manley were not immediately available.
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Top biotech names:
Biogen Idec
Genentech
Amgen
Genzyme
Celgene
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