“I think [the rally] has lot more legs,” said Tony Dwyer, equity market strategist, FTN Equity Capital Markets . “The retail money that has been on the sidelines is being dragged in…There’s a lot of room left for money to come in and I think the fundamental backdrop is going to support it.”
Dwyer said the economy is in a “capital V-shaped recovery,” driven by business spending and also some consumer spending.
“Financials is going to act a lot like tech media and telecom did off of the 2002 debacle,” he said. “They had the sharpest recovery in the beginning of the bull market and they flat lined for a couple of years. However, I think the real exciting part right now is in the industrial space.”
http://www.cnbc.com/id/32860168
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