Stocks To Pick While "Waiting" For Obama
There's still a week and a half to go before the new administration takes over in Washington, and it's left the market directionless, with little buying to support the recent rally. Still, Steve Grasso of Stuart Frankel has some ideas for stock buyers, if they want to stand up and be counted.
"It's the lack of volume that keeps taking the wind out of the sails of any rally, so nothing is prolonged," he told CNBC. "If you look at the volume, I think we're averaging just over a billion (shares per day). That's not nearly enough to sustain a rally."
Grasso likes Transocean, which soared 20 percent after he named it a week ago.
He also likes Weatherford International ..
"It has the best longer-term growth profile of the sector," he said.
Also on his list, Research In Motion.
Transocean, Weatherford International, and Research In Motion are all owned by either Grasso, his clients, or both.