'Stick with software over semis' as tech recovers, says investor $XLK (via TradingNation)
tech and telecom stocks. The first, a shorter-term chart, showed an uptrend that appeared to be intact.
"Both the declines in May and also in late July really failed to breach the longer-term trends in XLK," Newton noted. "Really, it's still a case of buying dips.""You are starting to see some real momentum waning," he said. "That really is more of a warning sign ... than, really, a sell [signal].
"First things first: I do believe the bull market's still intact, but when you're in the later innings, we have to be more defensive. And we love the tech sector. We're overweight. But hands down, we prefer software over semis, just like Mark does, so that really gives us a more defensive posture," he said in the same "Trading Nation" interview.
The "defensive" nature of the software sub-sector comes from the group's recurring revenues and generally high margins, both of which provide some much-needed "downside protection when the economy slows," Tepper said., " which reports earnings Thursday afternoon, Tepper said. "Quarter after quarter, they execute, but the stock price really hasn't moved. It's up only 7% this year.
is really the engine behind a business. It's the last expense a business would cut. So, we're overweight tech, but we do agree: stick with software over semis. "Disclosure: Strategic Wealth Partners owns shares of Salesforce.com.
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