TOM LEE: Stay Away From These 9 Stocks
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Fundstrat Global Advisors' Tom Lee has screened the market for stocks that he believes are going nowhere or going down.
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He found nine.
"The nine avoid ideas are based on the seven industries with the greatest positive dislocation and hence more likely to correct," Lee wrote in a note to clients.
All of the names on the list are in the electric utilities industry. They have a P/E ratio (2015 estimate) of greater than 15.0x, and free cash flow yield of less than 2%.
Lee believes the S&P 500 and Dow Jones Industrial Average could double in five years. But these nine names are expected to be a drag.
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