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David Trainer, president of New Constructs Inc., a Nashville-based stock research firm, says that the days of easy money from momentum stocks or hot sectors are over for now. Instead, astute buying and being able to sort out an industry's prospects will separate the winners from the losers.

The U.S. State Department said on Tuesday it would delay action on any new export license requests by BAE Systems Plc after the British military contractor pleaded guilty to violating several U.S. laws.

David Trainer, president of New Constructs Inc., a Nashville-based research firm, says the easy pickings of a momentum-driven market are over, and that investors will need to be much more choosy to make profits in the coming months.