Corporate earnings reports are living up — or down — to expectations. That's good, according to CastleArk Management's Jerry Castellini. He's enthusiastic about some stock sectors, especially for the long run.
"We've now priced the market, overall, for the environment, the economy that we're in," he told CNBC. "We shouldn't be surprised by job losses; we should be more encouraged by the companies that are doing their job in terms of covering their balance sheets, and really have an OK earnings outlook for 2009 and 2010."
Recommendations:
So which sectors does he like, and which ones does he find less favorable?
"You want to avoid, maybe, financials and the early-cycle stuff, but energy, industrials, technology, are all places that aren't as exposed to this debt issue that the rest of the market is," he said.
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Disclosures:
Disclosure information for Jerry Castellini was not immediately available.