Carter Worth CNBC 11/13/08 - Long Stocks

Carter Worth Chief Technician of Oppenheimer was on CNBC today, 11/13/08, below are Carter Worth's comments on the stock market. Carter Worth says he is still long.

There's no doubt the stock market has crashed, the stock market is in the throws of pricing all of this bad news in. Markets are going through a healing process and a stabilizing process right now. We are all in on the long side, there is still a lot of fear out there, but one is better served by buying rather then shorting or selling at this point.

Buy the the beaten down sectors, materials, energy, things that have capitulated.

SAP we like, IBM we don't like

Family Dollar, Dollar Tree, Wal Mart ( WMT ) we like.

We have a 7-8% stop on our positions.

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