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Correction is Healthy — and a Buying Opportunity: Strategist
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CNBC.com Writer
Markets opened lower and barely edged upward on Monday, as worries about Europe's debt woes concerned investors. Where are the best places to put your money now? Greg Merlino, president and founder of Ameriway Financial Services, and Ethan Anderson, portfolio manager at Rehmann Financial, shared their market strategies.
“This is just a correction that’s been long overdue,” Merlino told CNBC.
“We’ve gone 70 percent up from the March 9th lows last year, so not only is this normal, but it’s healthy—and people should add to their positions because of it.”
Merlino said he favors the health care and large cap technology sectors.
In the meantime, Anderson said there are a lot of financial uncertainties, which markets "hate."
“When you see countries concerned about being able to fulfill their obligations, I don’t think there will be a lot of new money coming into the markets in the near-term,” he said.
Anderson said the best places to invest are technology, health care, select financials and the industrial sectors.
“Whatever the reform ends up to be, is going to present certain opportunities in various health care sectors and adversely affect others,” he said of the sector.
“If you know what you’re doing in the health care industry, then there are some big opportunities.”
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Top Health Care Stocks:
Amgen [AMGN
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Bristol-Myers Squibb [BMY
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Johnson & Johnson [JNJ
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Merck [MRK
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Pfizer [PFE
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Disclosures:
No immediate information was available for Anderson or Merlino.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
