Dow to Close Around 13,000 This Year: Stock Picker

The overall market is in great shape and stocks should continue rising, said Neil Hennessy, portfolio manager and CIO of Hennessy Funds.

Technical Tuesday
Technical Tuesday   

“I still see another 6 percent on the upside this year and we’ll close around 13,000 [on the Dow],” Hennessy told CNBC.

Hennessy said his favorite sector is the low-end retailers. (Scroll down for his full stock picks.)

“That’s where you’re seeing M&A activity,” he explained.

Hennessy’s Picks:

Family Dollar

Dollar Tree

Tractor Supply

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Scorecard—What He Said:

  • Hennessy's Previous Appearance on CNBC (Dec. 29, 2010)

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CNBC Data Pages:

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CNBC Slideshows:

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Disclosures:

Hennessy owns shares of FDO, DLTR and TSCO via ownership of his mutual funds.

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Disclaimer