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Buy on Dips Instead of Pullbacks: Managing Director

Tuesday, 2 Jun 2009 | 5:49 PM ET

Investors may have missed the big market rally, but there is still room to buy, said Scott Billeadeau, managing director of Fifth Third Asset Management, and Larry Kantor, head of research at Barclays Capital. (See their investment recommendations, below.)

“I think everyone’s waiting for a pullback so that they can get in,” Billeadeau told CNBC. “So that tells me we’re not going to get much of one — and if we do, it’s not going to be as big as people expect.”

Billeadeau suggested buying on some dips instead of waiting for any significant pullbacks.

“We have increased our exposure to cyclical groups in the market over the past couple of months,” he said.

Kantor said although people have missed this rally, “sentiments have gone from Armageddon to 'there is light at the end of the tunnel.'”

Kantor said there is still room on the upside for some positive economic data and recommended investors look into stocks that have gotten beaten down the most.

Recommendations:

Today's Market Action
Scott Billeadeau, of Fifth Third Asset Management, and Larry Kantor, of Barclays Capital, discuss today's market action.

Billeadeau Increased Positions in:

- Technology

- Consumer Cyclical

- Materials

Billeadeau Decreased Positions in:

- Consumer Staples

- Health Care

Kantor Likes:

- Industrials

- Materials

- Energy

- Commodities

- Emerging Markets

Disclosure:

No immediate information was available for Billeadeau or Kantor.

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Top Technology Stocks:

Microsoft

Apple

Google

IBM

Yahoo

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Disclaimer

  Price   Change %Change
IBM
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MSFT
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YHOO
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AAPL
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GOOGL
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