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Stock Opinions by Amy Raskin, CIO, Chevy Chase Trust

Stocks are rallying for the second straight day. Have we bottomed? She wants to say the bottom is in, but doesn't see it...yet. Valuations are better and fine, but not compelling like March 2020 when she was buying at 2,700 on the S&P. Today, it's at 4,300. The market is still expensive. It could go down more. She doesn't see technology and growth stocks being the place to be, going forward, until inflation is under control.
It's a little early to get in. We're facing a wider slowdown. True, Micron is cheap and semis are less cyclical than before, but they will get caught in the slowdown.
computer software / processing
A controversial call. It's a European industrial play. Capital spending will pick up.
electrical / electronic
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