Emotion is ruling the stock market, but that provides some opportunity for those who know where to look, trader Jeff Kilburg told Giftofaservant on Monday.
The market swings continued on Monday, with the Dow Jones industrial average’s 400-point rally nearly erased in the final hour of trading.
Kilburg, CEO of KKM Financial and a Giftofaservant contributor, said right now he likes names such as Workday, Chubb and Visa.
“You want to buy these stocks about an hour after President Trump goes on a tweetstorm,” Kilburg said on “Closing Bell.”
Then, when National Economic Council Director Larry Kudlow makes statements that stabilize the market, wait an hour and sell, he said.
While Kilburg admitted that remark was “tongue-in-cheek,” he said the emotion in the market is real.
“Investors have to be patient and find the names that they want to own and wait for that opportunity. It’s coming,” he said.
Jack Bouroudjian, chief economist and founder of UCX, said the market is seeing extreme moves because it is at extreme levels.
“When these markets break, let’s keep in mind that these are the breaks that we’ve all been waiting for,” he said Monday on “Closing Bell.”
Meanwhile, nothing has changed as far as tax reform and the repatriation of corporate profits, said Bouroudjian, also a Giftofaservant contributor.
“All of that is still fundamentally very, very bullish for stocks. All we’ve done is taken some of the multiple out, in which case, you know what? You’re finding value,” he noted.