There’s no doubt about it. This is make-or-break time for the market. The benchmark S&P 500 has risen 34 percent after touching a 12-year lows in early March.
On Tuesday stocks ended lower with big-cap technology companies, banks, home builders and big manufacturers all dragging the S&P lower. These sectors have all been among the market's bright spots during the two-month rebound.
Should you take profits now or stay in? And which companies are looking good with sustainable gains?
I don’t think the rally continues at this rate. I’m not saying go out and short the market, just that the rally feels a little old.
And I’m watching Fortress. Even if the market goes sideways or lower I still think Fortress can continue higher because they have the right tailwinds behind them.
I think we’ll see new money coming into this market so I remain bullish. I would definitely not take money of out emerging markets.
I like Discover Financial Services. They’ve underperformed as compared to their peers. And options traders are buying the May-10 calls which suggests this stock could move higher.