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"We should be anticipating higher highs in the market," Lundgren, the chief market strategist at MOTR Capital Management & Research and a portfolio manager at Little Harbor Advisors, recently told Business Insider. The 28-year market veteran's upbeat sentiment is more widespread now than last fall, when the S&P 500 struggled mightily before a powerful end-of-year surge. There can be negative or positive stretches within an established bull or bear market, Lundgren noted. Only one of the ETFs tracking Lundgren's preferred sectors has beaten the S&P 500 (in dark blue) since late last summer. When adjusting for market cap, cyclicals have fared much better and have bested the equal-weight version of the S&P 500 in several cases.
Persons: , David Lundgren, Lundgren, he'd, we've Organizations: Service, MOTR Capital Management & Research, Little Harbor Advisors, Business, Yahoo Finance, Yahoo
He believes the stock market is rational — even when it doesn't appear to be. Related stories"The market is ruthlessly efficient, both long term and short term," Lundgren said. The strategist added: "The market doesn't care one iota about fundamentals in the short term. Like any market, stock exchanges determine prices based on what buyers and sellers will pay and sell for. Just because it's taking place in a mall doesn't make that mall an insane asylum."
Persons: , Tuesday's, Redditors, David Lundgren, Lundgren, who's, that's, It's, Benjamin Graham, Mark Minervini Organizations: Service, GameStop, Business, Street, MOTR Capital Management & Research, Little Harbor Advisors, AMC
Late last summer, veteran technical strategist and hedge fund manager David Lundgren urged his clients to bet against US stocks. "That pile of wood is just sitting there waiting for a catalyst, and I think it's coming," Lundgren said. "It's not our job to agree with the market's assessment of the fundamentals," Lundgren said. 5 sectors with strong momentum right nowMany investors remain concerned about a possible recession, but Lundgren has learned to lean on market trends instead of his gut. Coincidentally — or not — 11 of the names were in one of the five sectors that Lundgren highlighted.
Persons: David Lundgren, who's, we're, Lundgren, isn't, MOTR, I'm, there's, Guess what's, Industrials, Organizations: MOTR Capital Management & Research, Dow Jones Market, MOTR Capital Management, Research, Investors, Bank Locations: cyclicals
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