Stocks bounced off a lower open on Thursday after a pair of solid manufacturing reports and a rally in banks. Where should investors look to put their money? Frederic Dickson, chief market strategist at D.A. Davidson, and Carlo Panaccione, founder of Navigation Group, shared their insights.
“We have been taking some profits we’ve been getting from small caps over the last year and start to redeploy those towards the larger value and growth stocks,” Panaccione told CNBC.
“When you look at these large companies, they’ve got their hands all over the world and their fingers in all the pots, and that’s going to definitely help them to continue to grow.”
Going forward, Panaccione said it will become a stock picker’s market and flexibility is “very important” for investors.
In the meantime, Dickson said he likes some of the big cap names, but investors should also stick with some of the “more aggressive” small caps.
“It’s going to be growth, it’s going to be companies where we see analyst earnings estimates coming up and where we see the adjustments to those numbers,” he said. “So balance and selectivity is our game.”
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More Market Views:
Risk of 30-40% Drop in Stocks: Strategist
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Top Dow Laggards (as of this writing):
Coca-Cola
Travelers
Procter & Gamble
Wal-Mart Stores
IBM
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Disclosures:
No immediate information was available for Dickson or Panaccione.
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