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Maneuvering the Markets
For long term investors, the new Treasury plan to combat toxic assets is probably a helpful move, accroding to two investment advisors.
People have been waiting for something "thoughtful" from Treasury Secretary Geithner, said Steve Auth of Federated Investors during an interview on CNBC and this plan "might be."
"The key is clarity," added Greg Merlino of Ameriway Financial Services. "Without clarity and conviction you can't have confidence in this market and that's what's holding us back."
Both men suggested some cautious moves for investors.
"We're overweight large cap growth. We're staying away from financials for the time being," said Merlino.
Auth thinks the market is still oversold and going through a "bottoming process."
"Sentiment is still very negative," Auth said. But he suggested that investors who are underweight equities in their portfolios should at least get back to neutral. He suggested concentrating on stocks that offer dividends against strong balance sheets.
Data is a real-time snapshot *Data is delayed at least 15 minutes
