Where to Go Long in This Market?

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Nov. 5 (Bloomberg) –- KeeneOnTheMarkets.com’s Jim Ramelli discusses what to watch in the markets with Olivia Sterns on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Thank you for joining us.

What do you think drove today's modest selloff?

The european union came out today and cut their growth forecasts.

We knew we were going to be under pressure when we came in today.

We had some soft economic headlines out of europe.

We knew it was going to be some sellers on the open and.

We saw the market sell off to about 1755 which is a key support level.

Things could have gotten ugly today.

We had this better than expected service number and it brought buyers into the market.

They actually took a shot of trying to grow positively.

They wanted to test that area again.

Downside in the after hours.

Very choppy trading.

That is indicative of what we will see throughout the rest of the week.

You sent us an e-mail saying that today's price action shows that mine the dip is still the way to go.

Can you call today a dip?

The s&p is still up around 23% year to date.

We are off of the highest.

Today was not too much of a dip because we had a nice rally yesterday.

I still look for new lows at these levels.

Taking the profit on the way up and buying into new long.

Where can you go along in this market?

What are you looking for?

We have seen some oil flow in refiners, especially those that have exposure in the u.s.. we see institutional money coming into the equity options market and making some very bullish bets.

Expecting some serious upside out of these stocks through december and through the end of the year.

We see them coming and making these big bats, we see them having a huge october.

The institutional money is behind them.

They will have a very different fortune.

Their ovalero is up 42%. which refiners are you picking?

They are two different stories.

We look at the month they have had in october after institutional money as started to make these big bets.

They have pause little bit here as we are waiting for this jobs number.

Once we get that, we will be back off to the races.

Is a good

This text has been automatically generated. It may not be 100% accurate.

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