Many people compare the market to a roller coaster ride. But we don’t think they’re right.
It should be compared to the Matterhorn bobsleds or those swings that go up in the air. Or, really, any of the amusement park rides that go sideways.
Because unlike a roller coaster than makes big moves up and down the traders think we’ll be stuck going round in circles, at least for a while.
It seems to me stocks have found resistance around 1010 in the S&P, explains Joe Terranova on the Halftime Report. I expect the market to trade between 950 and 1010 for a while.
However, that kind of sideways market action can generate some hot trades, ifyou’re nimble. And nobody’s more nimble than Jeff Tomasulo of SMB Capital.
Ahead of the broadcast Tomasulo suggested the following trades if stocks get stuck in a range. Here are his picks: