Buy on Market Dips, Two Pros Recommend
With stock prices lower today, buying on market dips is the way to go, according to two market analysts.
U.S. stocks, as measured by the S&P 500, are still relatively cheap and "we think there's still probably about five to ten percent upside before the end of the year," David Stepherson, Sr. Portfolio Manager at Hardesty Capital Management, said.
He added that the S&P, when measured over the last 15 years, is at the low end of the price range.
Some big cap names that Stepherson likes are United Healthcare , Oracle , and Taiwan Semiconductors .
Richard Sparks of Schaeffer's Investment Research also encourages buying on dips, though his bet is on Edison International of the Dow Utility Average, up 27% this year.
"We like the fact that they are technically very strong, in fact one of the strongest utilities in the sector," Sparks said of Edison International.