Reply To: Traders Market Weekly: Embrace the Chaos in 2023


Citi contrarian bull and bear stock calls for 2023

For 2023 in assets, contrarians will likely be “short both oil (USO) (BNO) and gold (GLD), and long EM (EEM) (VWO) and DM equities,” Buckland said. “They would be sellers of the US$ (DXY).”

In stocks, contrarians “are currently long Growth, bearish Value and prefer cyclical to defensive sectors. They will likely be bullish on US equities (SPY) (QQQ) (IWM), especially Tech stocks (XLK) (XLC), and bearish Energy (XLE). Within EM, they will likely buy anything China-related (MCHI).”

The bull contrarian stock picks for 2023:

Meta (NASDAQ:META), year to date performance -65%
PayPal (PYPL), -65%
Tesla (TSLA), -62%
AMD (AMD), -57%
Netflix (NFLX), -51%
Salesforce (CRM), -50%
Intel (INTC), -50%
Amazon (AMZN), -49%
Micron (MU) -46%
Edwards Lifesciences (EW), -43%

The bearish contrarian stock picks for 2023:

Occidental Petroleum (NYSE:OXY), +99%
Marathon Petroleum (MPC), +65%
Exxon Mobil (XOM), +64%
SLB (SLB), +54%
ConocoPhillips (COP), +53%
Valero (VLO), +52%
McKesson (MCK), +48%
Chevron (CVX), +41%
Daiichi Sankyo (OTCPK:DSKYF), +35%
Glencore (OTCPK:GLCNF), +29%