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Fast Money

Miss the Rally? Here's Your Next Point of Entry


If you haven’t participated in the rally, top technical analyst Mary Ann Bartels thinks you’ll get a chance.

But not quite yet.

In the near-term the BofA Merrill Lynch head of technical & market analysis, thinks the S&P continues its advance. “Given the run the market has had, I’d be surprised if investors take profits (right now). I think they hold them for January."

Charting the Market's Direction

February however is a different story.  According to Bartels, a pullback appears quite likely.

To support her thesis she points to a slew of technical indicators that suggests the market is overbought.

“Not only areRSI’s overbought but we have stochastics overbought and the Vix is below 20. Also, the 5-day CBOE put to call ratio nearing a sell level.” 

Bartels calls all those indicators red flags.

“It’s been a great January; the rally should hold. But in February we could give up some gains. I don’t think we’re completely out of the woods," she says.

If and when that pullback comes, you should have a shopping list ready and pull the trigger. Bartels suggests leveraging 3 themes: mega caps, yield and growth.

What do you think? We want to know!

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Trader disclosure: On Jan. 23, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Terranova is long VRTS; Terranova is long IBM; Terranova is long SU; Terranova is long SJM; Terranova is long BRCM; Terranova is long MUB; Terranova is long EMC; Terranova is long F; Terranova is long SBUX; Terranova is long V; Terranova is long AXP; Terranova is long APC; Terranova is long OXY; Terranova is long TRLG; Terranova is long JNPR; Terranova is long CSCO; Terranova is long WFM; Terranova is long XOM; Terranova is long UNG April $5 puts; Adami owns Citigroup (C); Adami owns Goldman Sachs (GS); Adami owns Microsoft (MSFT); Adami owns Agzium (AGU); Adami owns Nucor (NUE); Adami owns Peabody Energy (BTU); A family member of Guy Adami works at Merck (MRK); Seymour is long Apple (AAPL); Seymour is long Cisco (CSCO); Seymour is long Bank of America (BAC); Nations is long Microsoft (MSFT); Nations is long Bank of America (BAC); Nations is long Citigroup (C);

For Ron Insana
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Jackson is long Yahoo (YHOO)

For Nick Cherney
Cherney is long TVIX
Chreney is long XIV

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