Invest In High Quality Stocks Like Merck (MRK) : Analyst Says On CNBC

Talking with CNBC, Ray Harrison, founder of Harrison Financial Group, shared his insight about the general direction of the market. He said that he expects the market to move sideways for some time now.

He also stated that last year's rally was driven by revaluation of risk by investors. According to him, economic news is likely to be the driver of markets in 2010. Bill Smead, CEO and CIO of Smead Capital Management, said that there are abundant investment opportunities in the market. He said that he prefers to invest in bigger companies with massive balance sheets. He particularly liked Merck (NYSE: MRK), Amgen (NASDAQ: AMGN) and Pfizer (NYSE: PFE).