Why The Best Days For "Junk" Outperformance Is Behind Us In This Recovery

<p>Michael Kantrowitz says continue to expect a constructive market environment, driven by rising earnings expectations and range-bound valuations. Value stocks with above-average earnings momentum, high operating leverage and moderate betas are likely to continue outperforming. Plus, it's still too early to dive back into growth or defensive strategies, with the expectation for strong data to continue. </p>