Chris Vermuelen, chief market strategist at https://TheTechnicalTraders.com, has redeployed his cash holdings back into stocks and is now fully invested ahead of what he believes is a bull rally. Vermeulen has just a few months ago liquidated all his holdings and held 100% cash in anticipation of a market correction. Speaking to David Lin, anchor for Kitco News, Vermeulen said that the panic selling in the stock markets on Tuesday should subside in a few days. Gold, on the other hand, is showing signs of sustained weakness ahead, and Vermeulen is currently not invested in the yellow metal.
0:00 - Panic selling8:02 - Back into equities10:12 - Gold12:50 - Utilities16:16 - Preferred equity sectors
Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic.