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Search resuls for: "Roth MKM's JC O'Hara"


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A major Wall Street strategist is jumping aboard the story that materials stocks could be at the start of a big rally. That theory played out during last week's rally for Chinese stocks. The Materials Select Sector SPDR Fund (XLB) rose 3% last week, though it was down a bit on Monday and Tuesday. XLB 1M mountain This materials fund is up since the Chinese stock rally began. Bank of America isn't the only Wall Street shop that's bullish on materials given the change in China.
Persons: Savita Subramanian, Sherwin, Subramanian, Roth MKM's JC O'Hara Organizations: Bank of America, Linde Locations: China, Freeport, McMoRan
The Chinese stock market just had its best single day in more than a decade. It's also the last trading day of the week in China due to the Golden Week holiday. Against this backdrop, Roth MKM's JC O'Hara highlighted one S & P 500 sector that might benefit the most from a rebound in China's economy: materials. Some materials stocks highlighted by O'Hara as potential winners, at least based on their price charts alone, are O-I Glass , Corteva and Freeport-McMoRan . To be sure, investors should tread carefully in materials, O'Hara said.
Persons: It's, Roth MKM's JC O'Hara, O'Hara Organizations: CSI, Seaport, Disney Locations: China, Freeport, McMoRan
"That's a normal correction, when bull markets get overheated like this," said Dan Wantrobski, technical strategist at Janney Montgomery Scott. When a stock, for example, falls below its 200-day moving average, it is seen as a potential sign of more downside pressure. Earlier this month, the index fell below the commonly watched 50-day moving average. Fairlead Strategies' Katie Stockton is closely watching a popular trend-following gauge known as the moving average convergence/divergence indicator, or MACD — which recently flipped to a sell signal after reverting to a buy in November. Pressure from yields Technical indicators may help analysts detect where the market is headed, but macroeconomic factors remain the major action drivers influencing sentiment.
Persons: Dan Wantrobski, Janney Montgomery Scott, Wantrobski, Roth MKM's JC O'Hara, Katie Stockton, Stockton, O'Hara Organizations: Nasdaq, Wall
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