Investors Should Use Pullbacks as Chance to Buy Industrials, Tech

Scott Wren, senior equity strategist at Wells Fargo, says he believes recent declines in the markets are only temporary and investors should consider pullbacks as opportunity to buy. Wren says retail investors as a whole are too cash-heavy and under-invested in stocks, which he believes is a bad position to be in as he expects the cyclical market has more room to run over the next couple of years. Wren says as the markets pulled back, the defensive sectors have fared the best but the sectors he likes the most, the economically-sensitive ones, have done the worst. He recommends buying stocks in sectors like the industrials, technology and the consumer discretionary space, which will be sensitive to a continuation of the economic recovery.