I just wrote this earlier: the market does not yet know about the recession, so while they have punished homebuilders and lenders due to earnings shortfalls, retailers/restaurants/ leisure and hospitality/ tourism, manufacturers are still spared. Thus, a better opportunity exists.
Think of car dealers (who buys cars in a recession), Home Depot, Lowe’s, carpet stores…anything that consumers buy will be punished next, and by mid-year start shorting manufacturers.
