David Seaburg spoke on CNBC about stocks that should perform well in 2016. He thinks that the best performers of 2015, like Amazon.com, Inc. AMZN and Nike Inc NKE are going to continue to perform well in 2016.
Amazon has a price to earnings multiple of 1,000, but Seaburg loves it and he believes that it is going to continue to work in 2016. He sees the stock as a great opportunity for a long-term investor, but he added that short-term ups and downs are possible.
Seaburg would not be a seller of Nike. He thinks that it is immune from everything that is going on currently in the retail space and he believes that the stock is going higher. The company reported great numbers, added Seaburg.
The commodity space should continue to struggle, thinks Seaburg. He expects to see some bankruptcies in the first half of the next year and that is going to create negative sentiment, which should hurt the market. That is going to be the time to consider buying some of the higher quality companies in the space, said Seaburg.
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