Cashing In After The Rally
How do you keep making money as the markets reach new highs? Mike Williams, global strategist for Nations Financial Group and Thomas Melcher, chief investment officer of Hawthorne-PNC Wealth Management joined CNBC’s Erin Burnett on “Street Signs,” with advice on how to cash in after the rally.
“The key to this market is valuation,” said Melcher, who is looking at Pfizer, General Electric and Nike. “We see value in some of the big-cap stocks trading with decent yields.” Melcher also predicted that there are at least a few more years left before a recession.
“We believe technology, consumers, materials and energy all continue to suggest that the global gain is well at hand,” said Williams, who likes Tesoro (TSO) and Cummins (CMI). “Both of these stocks have done extremely well, so a bit of a correction here and there might be opportunistic,” said Williams.