Pru sees recovery rally by Susan Lerner
Prudential Securities' Chief Investment Strategist Greg Smith told clients Tuesday he believes we are "very close in time to a major recovery rally." Smith noted that it's getting to the point where there are opportunities in certain selective ideas that could manifest themselves in the next 3-4 weeks. Strategically, he said, it is a good idea to maintain exposure to the areas that have benefited from the damage in the technology sector. As for technology, Smith believes there will be a rally in a bear market that will probably be "the most significant rally of the year."
He expects this rally will happen in the next 60 days and that when it happens it will be "quick and extremely strong."
Prudential Securities' Chief Investment Strategist Greg Smith told clients Tuesday he believes we are "very close in time to a major recovery rally." Smith noted that it's getting to the point where there are opportunities in certain selective ideas that could manifest themselves in the next 3-4 weeks. Strategically, he said, it is a good idea to maintain exposure to the areas that have benefited from the damage in the technology sector. As for technology, Smith believes there will be a rally in a bear market that will probably be "the most significant rally of the year."
He expects this rally will happen in the next 60 days and that when it happens it will be "quick and extremely strong."