Stocks bounced back on Tuesday after a report showed consumer confidence rose for a third straight month. What should investors expect from the markets going forward? Joe Kinahan, chief derivatives strategist at TD Ameritrade, shared his investment strategies.
“Markets are overall good,” Kinahan told CNBC. “You can see in the VIX [volatility index] today, that the markets are taking a breath from the information overload we’ve seen for the last three to four trading days.”
Kinahan said Apple’s earnings results on Monday gave the markets confidence; and many of the Dow companies are also reporting strong numbers.
Kinahan also pointed out that telecommunications was one of the biggest areas retail customers went into last week, while diversified financials was one of the sectors people exited.
“We’re starting to see people come back,” he said. “When they come back, they’re going to come back smarter.”
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No immediate information was available for Kinahan or his firm.