This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Buy in the Dips, Urges Palisade Capital's Veru

NEW YORK (TheStreet) -- Palisade Capital Management Chief Investment Officer Dan Veru is using the budget impasse as a buying opportunity, reflecting the view that markets may rise once Washington's political impasse is broken.

Veru, whose firm manages around $4.3 billion in total assets, said the "sideshow" in Washington has become a buying opportunity. The Palisade fund manager says the gradual global economic recovery in Europe and Asia coupled with accommodative monetary policy from the Federal Reserve supports his call that stocks may be poised to move higher.

 "We are buying on a stock by stock [rather than a sector] basis," Veru said in a phone interview. "And if the market sells off, it makes companies we like more attractive. I firmly believe that when all this blows over, and it will blow over, that the market will be higher by the year end." 

National Securities chief market strategist Donald Selkin echoed Veru's outlook explaining that he's also buying in the dips on the basis that political machinations are short-term phenomenons. National Securities oversees $4 billion in funds. "We don't see too much upside but fourth quarter earnings should still be up 8-9%," he added.

Must Read: Stocks Rise as Senators Race to Avert a Default

Selkin likes energy stocks such as Exxon Mobil (XOM - Get Report), pharmaceutical names such as Merck (MRK - Get Report) and tech companies such as Facebook (FB - Get Report) and Apple (AAPL - Get Report) - though he;'s waiting for a pullback in the latter names before adding to his positions. Selkin also pointed to the market's optimism that a deal would be reached, noting that even during the shutdown, the U.S. equity benchmark hasn't fallen far from its five-year high of 1725.52 reached in September.

--By Jane Searle in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $122.58 -0.64%
FB $95.51 0.23%
MRK $58.72 2.10%
XOM $82.61 0.16%
GOOG $625.48 -0.40%

Markets

Chart of I:DJI
DOW 17,734.86 +104.59 0.59%
S&P 500 2,105.16 +11.91 0.57%
NASDAQ 5,102.8630 +13.6570 0.27%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs