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Joe Terranova Reveals His Portfolio Strategy For 2016

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On CNBC's Fast Money Halftime Report, Joe Terranova spoke about his portfolio strategy for 2016. He wants to focus on simple strategies and he is looking for growth.

He started 2016 with a significant amount of cash and he had a long position in Palo Alto Networks Inc(NYSE: PANW). Terranova thinks that Palo Alto Networks is going to $200.

Concho Resources Inc (NYSE: CXO) was his first purchase in 2016. He believes that the stock is going to be a winner in the energy space.

Ruckus Wireless Inc (NYSE: RKUS) is another stock that he added to his portfolio in January. The company is a leader in Wi-Fi and it is getting more market share than HP Inc (NYSE: HPQ) and Oracle Corporation (NYSE: ORCL). It is also entering the education business.

Terranova bought Facebook Inc (NASDAQ: FB) on Wednesday. He likes the stock and he believes that it is going to continue to expand the number of users.

His latest addition to the portfolio is Mohawk Industries, Inc. (NYSE: MHK), which he bought on a pullback. Terranova believes that it is going back above $200.

 

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Posted-In: CNBC Fast Money Halftime Report Joe TerranovaMedia