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Markets to Sell Off if Dow Breaks This Level: Pro
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CNBC.com Writer
Stocks have fallen almost 4 percent this month after a 7-percent gain in July. So what’s next and how do investors play it?
Charles Carlson, CEO and portfolio manager of Horizon Investment Services, shared his best plays.
“Since April, both the Dow Jones Industrial Average and the Dow Jones Transports mapped out a series of lower highs and lower lows—and that’s bearish under the Dow theory,” Carlson told CNBC.
“Everyone’s been watching the July lows; and the Dow that’s 9,686; and the industrials and the transports that are 3,906—those are the key points.”
Carlson said if the industrial average and the transports close below the respective levels, then investors should brace for a further market selloff.
He expects certain stocks to move.
Carlson’s Dow Picks:
Intel [INTC
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Microsoft [MSFT
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Travelers [TRV
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“We think there’s going to be plenty of excitement in these stocks,” Carlson explained.
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Scorecard—What He Said:
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Market Opinions—Read and Decide:
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CNBC Data Pages:
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CNBC Slideshows:
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Disclosures:
Carlson and his firm both own IBM, INTC, MSFT and TRV.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
