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CNBC News Associate
Craig Peckham, equity trading strategist at Jeffries & Co. and Ned Riley, CEO of Riley Asset Management shared their market insights and told investors where they should be putting their money.
“I’d sound some caution signs in the short term,” Peckham told CNBC. “This market is probably skewing toward the downside risk in the short-term. Some of it’s seasonal and some of it’s self-fulfilling prophecy.”
In the meantime, Riley said he sees a global economic recovery.
“Liquidity is huge out there,” he said. “People are still bearish about the long-term outlook for equities … This market is statistically very cheap, it’s just that we’re looking at it from a traders’ perspective instead of an investors’ perspective.”
Recommendations:
Peckham Likes:
S&P Energy
S&P Materials
S&P Technology
Peckham Dislikes:
S&P Consumer Discretionary
KBW Bank Index
Riley Likes:
PowerShares QQQ [QQQQ
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Financial SPDR [XLF
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SPDR S&P 500 [SPY
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Riley Dislikes:
S&P Energy
RJ CRB Index
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Disclosure:
No immediate information was available for Peckham or Riley.
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