Don't Stay Away--Where To Invest For The Summer
Sell in May and stay away? Not according to Clem Chambers, chief executive of ADVFN, or Jeffrey Hirsch, editor at Stock Traders Almanac. The two analysts agree: Be "a little more cautious" -- and "take advantage" of momentum shifts. They gave "Street Signs" viewers their picks for the best summertime investments.
Chambers joked that Europe "gets slower and slower after Easter" and "France absolutely closes down in August." But he said this also creates an opportunity for investors to play the "good news in America" and "go short Europe and long the Dow."
The CEO told CNBC's Erin Burnett that he likes Apple "for short-term, high-risk"; in the medium term, he says J.P. Morgan "looks great"; and looking longer, Chambers said "you'd have to be crazy to not be in oil" -- and singled out Chevron.
Hirsch conceded that the summer months "seasonally and historically" see softer markets -- but doesn't think investors should "necessarily" sell. Instead, he advises them to look for a shift in momentum -- and recommends Internet, health and the "gold and silver" sectors to see investors through the summer.