Advisor Sceptical

Derwood Chase of Chase Investment Counsel is sceptical of the recent rally.He says we haven't seen the exhaustion of selling you usually see for a bull market to begin.Stick to good quality defensive stocks.Technically,I think the market is very likely to test the March lows.We consider it a high risk market,Mr.Chase warns.He likes TJX,Wal-Mart and Schlumberger.