Stocks rallied for a third straight trading session on Wednesday, so how should investors prep their portfolios Thursday? Andrew Kanaly, chairman of Kanaly Trust Company and Jordan Kimmel, market strategist at National Securities shared their market insights.
“You have to rifle-shot the companies with the highest revenue growth, profit growth and cash flow acceleration,” Kimmel told CNBC.
“We’re actually seeing new leadership coming in health care and technology. Most of all, small to mid-cap is leading the market like it always does…This is a very strong market.”
Kimmel said he sees the markets go higher as confidence continues to build and money flows back. He told investors to avoid Treasurys.
“Treasurys are simply not the place to be,” said Kimmel. “People rushed into them in the darkest hour—that’s always a dumb trade, frankly.”
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In the meantime, Kanaly said he is making money in commodities and has a 30 percent long position in the markets.
“We’ve got an inflation position in our portfolio and we’re a little concerned that gold may be a little bit ahead of itself because of global demand and cyclical recovery," he said. "But longer term, we want to see break above $1,033 before we believe in this rally, but we have a nice position in gold.”
Kanaly Likes:
S&P Technology
S&P Materials
S&P Energy
Kanaly Dislikes:
S&P Financial
S&P Retail
Kimmel Likes:
Randgold
Ebix
Sociedad
Kimmel Dislikes:
S&P Financial
DJ Ins Brokers
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Disclosure:
No immediate information was available for Kanaly or Kimmel.
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