MKM Partners highlights 10 sector buy/sell pair trades
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The technical research team at MKM Partners comes out with pair trade ideas for ten sectors.
"Sentiment continues to be extremely washed out," J.C. O'Hara, chief market technician, wrote in a note Tuesday. "This sort of investor behavior has historically preceded a bounce, which is exactly what happened."
"The bear market bounce, which started late May, paused right where it should, under heavy technical resistance at 4,200 on the S&P 500 (SP500) (SPY). Bottoming behavior takes time, thus patience is required. This week we turn our attention to pair trade ideas."
The trades are:

Communication Services (XLC) - Buy T-Mobile US (TMUS) with techincal target $150. Sell Comcast (CMCSA) with technical target $36.
Consumer Discretionary (XLY) - Buy Genuine Parts (GPC) with target $158. Sell Whirlpool (WHR) with target at $138.
Consumer Staples (XLP) - Buy Monster Beverage (MNST) with target at $99. Sell Church & Dwight (CHD) with target $80.
Financials (XLF) - Buy M&T Bank (MTB) with target $205. Sell KeyCorp (KEY) with target $15.85.
Healthcare (XLV) - Buy Pfizer (NYSE:PFE) with target $60. Sell Stryker (SYK) with target $193.
Industrials (XLI) - Buy C.H. Robinson (CHRW) with target $122. Sell Equifax (EFX) with target $161.
Info Tech (XLK) - Buy IBM (NYSE:IBM) with target $152. Sell NetApp (NTAP) with target $57.
Materials (XLB) - Buy LyondellBasell (LYB) with target $125. Sell DuPont (DD) with target $61.
Real Estates (XLRE) - Buy Host Hotels and Resorts (HST) with target $26. Sell Healthpeak Properties (PEAK) with target $26.50.
Utilities (XLU) - Buy Entergy (ETR) with target $134. Sell FirstEnergy (FE) with target $38.50.

See the additions and deletions to BofA's Alpha Surprise Portfolio.