As the Nasdaq (^IXIC) is down the most out of the three major indexes (^DJI,^GSPC), investors may be wondering if now is the time to buy on the dip. Jason Browne, Alexis Investment Partners president, joins Julie Hyman and Josh Lipton on Market Domination to discuss how recent volatility could be an opportunity to buy into tech.

“We have a lot of negative news hitting simultaneous[ly] to the pullback. If we can look at those as opportunities to add to things that we may have missed out on or maybe underweight in that tends to work out well over time. The other thing to note is with tech, particularly [when] we're going into an environment that potentially is going to be continued growth but slower growth. Then names with very attractive balance sheets that are more consistent earners or earnings growers and so forth. They tend to be a place that people flock to,” Browne tells the Market Domination team.

He adds, “We are seeing this last couple of months consolidation period in this very strong uptrend, as overall a positive thing. We had lightened up on growth leading into this mostly because of wanting, like many, to take advantage of the broadening leadership associated with a more sustained rally. But we've been buying the dip in tech periodically in each of these pullbacks.”

The portfolio manager mentions Alexis Investment Partners “used more indirect exposure than direct buying,” with exchange-traded funds (ETFs) “that have significant weighting to these names.” He names iShares Global 100 ETF (IOO.MX) and Vanguard Growth ETF (VUG) as ways to play tech. Browne notes that the ETFs were "within the context of also adding to things like" [real estate investment trusts] REITs and the equal-weight S&P 500 (^SPXEW). "I was kind of buying the dip today in general, but I specifically did make sure to incorporate some of these broadly diversified funds that are heavily weighted to large-cap tech as a big chunk.”

Browne also has focused on "standouts within leading sectors." He says "Within technology, we own, as you might imagine, Apple (AAPL), Google (GOOG, GOOGL), Nvidia (NVDA), Microsoft (MSFT), in addition to owning a semiconductor ETF."

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This post was written by Naomi Buchanan.