Editor's note: As part of our partnership with Nightly Business Report, TheStreet's David Peltier will appear on NBR Monday (check local listings) to reveal his favorite stocks for riding out the rest of 2012.
NEW YORK ( TheStreet) -- Stocks have rocketed out of the gate in 2012. We're just about to close the book on the first quarter and the S&P 500 is up about 12% -- which, in most cases, would be considered a successful year, much less a quarter.
And in fact, when I think about the rest of 2012, I don't foresee an outcome where the market will give up all its gains or end up 20% or more for the year. Rather, I think it's likely we'll enter a more choppy, sideways trading environment over the next couple of quarters, as stocks digest recent gains.
With that in mind, I believe the best strategy is to take some profits in the early winners of 2012 and rotate into some high-quality stocks in sectors that have lagged year-to-date.
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