2010 Outlook: Rotation into Energy, Financials?

CNBC’s Paul Toscano writes of a potential major rotation by investors into energy and financials in 2010. He quotes Kanundrum Capital’s Brian Kelly as saying global growth will drive oil to $87 to $97 per barrel, though Steve Cortes of Veracruz LLC thinks the commodity trade is too crowded to be sustained. Katie Stockton of MM Partners, meanwhile, says the Financial Select Sector SPDR ETF (XLF) is in oversold territory, and Jon Najarian of OptionsMonster says anonymous sources at Bank of America (BAC) say the first quarter of 2010 will be a “blowout.”