Stocks in 'Good Position' to Break Out: Top Portfolio Manager

Stocks are in a “good position” to rise and hold higher levels, said Ted Parrish, co-portfolio manager at Henssler Equity Fund. He shared his market outlook and best plays with investors.

“We’ve gone through a very challenging period this summer, which is seasonally a slow period, and we’re entering into a period that will be pretty good when it comes to retail sales and industrial production," Parrish told CNBC.

And I think we break out from here and finish the year on a positive note,” he said.

Overall, Parrish expects the second quarter to be the “low mark” for GDP and sees it rising in the third and fourth quarters.

Parrish Likes:

Archer-Daniels Midland

Fluor

UnitedHealth Group

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Scorecard—What He Said:

• Parrish's Previous Appearance on CNBC (Jul. 27, 2010)

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Market Views—Across the Board:

• S&P to Reach 1,200 by Year-End: Chief Investor

• Volatility Index Signals a Pullback: Strategists

• 5-Star Manager: My Plays for 'Secular Tailwinds'

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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:

• Top Cities For Home Buyer Interest

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CNBC's Companies in the News:

FedEx

• FedEx Profit Doubles but Still Disappoints Wall Street

Sony

• Sony Says Likely to Meet Annual PS3 Sales Target

Boeing

• Boeing Plans to Send Passengers into Space

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Disclosures:

No immediate information was available for Parrish or his firm.

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Disclaimer