It’s been a wild few days in the stock market. Today we’re back in the green after the Nasdaq Composite fell into correction territory yesterday.

So what should investors make of this?

You have to stack up the recent losses against the rally we’ve seen since the market’s March lows, said Edward Jones principal investment strategist Nela Richardson.

Put into perspective, the selloff of the past days isn’t quite so bad, even though it shows that the market is concerned about the overall economy. So the best advice for investors is to have realistic expectations, Richardson told Alison Kosik on the CNN Business digital live show Markets Now.

“The fact is that the recovery, while we think it’s going to happen, will be longer than what we expected in June,” she said. On top of that federal and fiscal stimulus will likely start to wane.

For the moment, then, investors should play both offense and defense, meaning they should position themselves to reap the benefits of the economic recovery through exposure to cyclical sectors like industrials and financials.

The November presidential election could inject more volatility into the market, but investors shouldn’t worry too much.

“Stocks have performed well in every configuration of politics,” Richardson said. Over the long term elections don’t matter that much compared with the actual economic fundamentals, she added.

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