Sit and wait on stocks: trader

Vespula Capital CEO and trader Jeff Tomasulo says he's sitting on the sidelines until he gets more clarity on the outlook for the pandemic, oil, and corporate earnings.

As stocks sell off and oil gets clobbered for a second straight day Tuesday, Vespula Capital CEO and trader Jeff Tomasulo says he's sitting on the sidelines with his investments.

He says he'll wait until he gets more clarity on the outlook for the pandemic, oil, and corporate earnings before he commits new money to the markets.