Hedge Fund Pro's Short-Term Sector Plays

The markets look choppy in the short-term but "there’s a feeling that we are forming a bottom" and there will be opportunities on the upside longer-term, said Richard Del Bello, senior partner at Conifer Securities. So where should investors put their money?

“A lot of people are playing on the short-side with ETFs,” Del Bello told CNBC.

He said traders are cautious about the energy sector and playing the short-side until the oil spill issue gets resolved in the Gulf coast. He added that the financials are also a short-term play.

“The U.S. is looking strong because of what’s happening in Europe, but there’s a question about balance sheets and whether or not that contagion is going to hit here,” he explained. “Until things get cleared up in Europe, it’s still a question out there.”

Meanwhile, Del Bello said the technology sector is becoming a “safe haven” for equities.

“Apple is the one name that keeps on ploughing,” he said.

Scorecard — What He Said:

• Del Bellow's Previous Appearance on CNBC (Oct. 21, 2009)

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Market Views Across the Board:

• Stocks Look 'Cheap' — But Expect Choppy Market
• Bull Market to Continue For 'Another Couple of Years'
• 'Worst' Stocks Will Be 'Best' Performers: Analyst

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CNBC Data Pages:

• Dow 30 Stocks—In Real Time
• Oil, Gold, Natural Gas Prices Now
• Where's the US Dollar Today?

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CNBC Slideshows:

• Cramer's 12 Stocks to Play the Recovery

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Wednesday's Top Dow Gainers (As of Noon):

Walt Disney

American Express

Hewlett-Packard

Caterpillar

JPMorgan

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Disclosures:

No immediate information was available for Del Bello or his firm.

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Disclaimer