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Power Lunch

Greece, volatility and the smart money strategy

A trader works on the floor of the New York Stock Exchange shortly before the closing bell, June 29, 2015. U.S. stocks fell sharply in heavy trading on Monday and the S&P 500 and the Dow had their worst day since October after a collapse in Greek bailout talks intensified fears that the country could be the first to exit the euro zone.
Lucas Jackson | Reuters

Volatility on Wall Street continued Tuesday as concerns over Greece and now Puerto Rico continues to weigh on the minds of investors.

Read More Greek crisis: How to trade the volatility

Hayes Miller is Head of Global Asset Allocation with Baring Asset Management.

Miller says that while wall street waits for a referendum, it's his belief that "in the long run it isn't very important."

Miller also says "Monday's sell-off was bigger than the Greek economy and the overall EU economy."

Miller feels those sectors being rewarded in the current market include technology, healthcare, and the consumer.

Miller likes the developed market banks and parts of the other financial space. He would be a buyer of the US Regional Bank ETF.

Mazin Jadallah is Founder and CEO of AlphaClone and manages the five star rated AlphaClone Alternative Alpha ETF. He feels the increasing "noise" from Greece, PuertoRico, the China pullback and the Fed, is a buying opportunity.

Jadallah says he expects volatility to remain high. He says he is "prepared to deploy his dynamic hedge strategy should the markets falter."

The top five holdings in his AlphaClone Alternative Alpha ETF include Apple, Valeant, Celgene, Horizon and Biogen.