Need to Know: Once-hated energy stocks are now too popular — here’s when to plunge in

Apple’s earnings beat and buyback plan just could help give the market a win today.

That’s as long as the Federal Reserve’s latest signals don’t end up spoiling the mood for stocks.

If you’re thinking about making some buys, don’t go with the energy sector, says our call of the day from the True Contrarian’s Steven Jon Kaplan.

“It has become clearly overbought,” Kaplan writes to his subscribers.

He says attitudes toward these equities have flipped — and that’s probably bearish for them.

“The media have become unusually bullish toward energy shares — the same media who were just as vocally bearish last summer when they were compelling for purchase,” says Kaplan, whose newsletter aims to highlight the unanimous views in markets, along with how traders can go in the exact opposite direction.

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