iQoncept
The Consumer discretionary sector (NYSEARCA:XLY) had the largest net selling in almost two months, according to an Insights and Analytics report by Goldman Sachs’ Prime Brokerage team.
The report said that the sector was net sold for the third straight week, during the week ending March 14. It was among the most net sold sectors, driven entirely by short sales.
In addition, broadline retail’s short and long sales, hotels, restaurants, and leisure’s short sales, and household durables’ long and short sales outpaced modest net buying in textiles, apparels, luxury goods, and auto components.
Goldman Sachs’ Prime Book still is overweight the consumer discretionary sector (XLY) compared to the S&P 500 (SP500) by 6.7%, which is in the 96th percentile, compared to the past year, and in the 90th percentile compared to the past five years, the report said.
The sector’s long/short ratio stands now at 1.98, almost reaching two-year highs, and in the 58th percentile compared to the past five years.