Looking for some stock picks for July? Tom Busby, president and CEO of DTI, offered some ideas at DTI's Windy City Workshop in Chicago this morning. Busby said the current market "gives hope for opportunity." He said that in general, traders should pick stocks that are liquid and widely followed, so that news on companies is easily available.
One of Busby's picks was the Chicago Board Options Exchange (CBOE), which at long last went public in June and has seen its stock dip recently. However, Busby said of CBOE: "you can make a lot of money if you stay with it." Of another recommendation, Pepsi (PEP), Busby said it's very stable and can make money into October, November and December. Busby also includedthe gold ETF (GLD) in his picks with the idea that gold is headed higher, and likes ProShares Ultra Short QQQ (QID) as a play against the Nasdaq.
Here are Tom Busby's Top 10 Stocks for the Summer:
Exxon Mobil (XOM)
Utilities Select Sector SPDR (XLU)
ProShares Ultra Short QQQ (QID)
Ultra QQQ ProShares (QLD)
Diamonds Trust Series 1 (DIA)
SPDR Gold Trust (GLD)