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Wells Fargo Advisors senior equity strategist Scott Wren gives tips for investing in the equity markets.
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To continue well the best person to ask Scott Wren senior equity strategist at Wells Fargo joining us to -- -- Scott thanks so much joining us once again.
These are confusing times right I mean right after hurricane right before a presidential election -- advising clients as far as the equity markets.
Well -- hopefully they're squared up by now on I think that that the market overall traders and and a lot of investors who were.
In and out a lot they've been they've been -- up for the last month I think that was part of the reason why we pulled back what we want our clients doing.
Is taking advantage of pullbacks I wish you would have had a little bit more of a pullback.
This last -- -- -- them that's and he might get down to thirteen sixty or seventy something like that rather than just 45%.
We could easily see that after Tuesday are are you know certainly sometime between now and the end of the year.
I think we're gonna see more volatility but we want our clients buying.
Stocks.
And in industry groups that are sensitive to a continuation of the economic recovery here in the states are considered -- -- economic -- -- for the election just to be real clear strategy well yeah I mean any kind of any kind of pullback we want our clients buying in here so.
More trying to you know -- -- my idea are my thoughts on the election are that we're gonna trade off the results of that for probably through Thanksgiving whoever wins.
But then the market's going to get back to trying to figure out what's the economy.
What are earnings going to do in 2013.
We're gonna trade -- there are hearing a target for 2013.
News is 1525.
To 1575 so.
From current levels I think we have some decent upside.
Next let me ask you that industry groups he told us home improvement retailers restaurants department store semiconductor equipment applications software given.
The hurricane in the aftermath -- -- report talking about Home Depot any other place insurance companies are you changing the strategies given the magnitude disaster.
You know what we're really not because our our investors you're working -- retail investors -- -- -- for the longer haul you know let's city's home improvement retailer even writing notes for a long time they've really done well.
And that things are selling right now you know plywood -- tarps all those kinds of things you know those are low margin items.
And while they've seen it jump -- us -- -- sandy hit the market reopened you know that we thin and those things I don't know how much they're really going to get out of sandy.
But I think they're going to get more out of a continuation of the that the economic recovery so if you're in those.
We want you to stay and those but you know we're not trying to get our investors in and out of stocks quickly based on the aftermath of this hurts me.
Triggered by some paring back on treasuries not a surprise given the rally of late so are you taking up that space would you advise with equities or just this -- position.
No -- tea with equities really an even though the market's pretty close our year end target for this year.
It's 1411450.
So -- right just about in the middle of that range.
You know that doesn't mean that on pullbacks we don't want our clients.
Investing and we don't want them raising cash because I think right now we're trying to get them positioned.
For the next 121518.
Months and for that I think you need to be pretty fully invested right here thank you so much for your advice and -- outlook Scott.
