"We've been looking for a correction," the firm's chief market strategist told CNBC's "According to Dwyer, the pullback started in November as the reflation trade was peaking relative to the market.
"During the September swoon and the late October whoosh, that was the time to be getting aggressive and add exposure in the economic improvement trade," he said. "Everybody started chasing that in late December and January.""A mistake people could make here is by becoming overly negative in anticipation of a correction," said Dwyer.
He lists monetary and fiscal policies for a positive backdrop and the benefits of low interest rates. "The one that people don't think about is the interest rate expense stimulus refinancing — refinancing your mortgage as a household or as a company refinancing corporate debt," added Dwyer. "That's a big cost savings."
On down days, Dwyer is targeting groups that should profit from excess liquidity and a synchronized global recovery. His top plays include
TradingNation
TradingNation WRONG!
TradingNation We just had a 4.3% pullback and futures did a a full 5.5% correction what u r u guys smoking
TradingNation Fire sale
TradingNation Please tell me I’m not the only one who feels like tech stocks are a bit overpriced? Oh and what happened to splits? Amazon could do a 10 for 1 at this point and get the stock to an acceptable $300 who in their right mind as a small investor will touch Amazon. Amzn costs too much