Everyone on fast money is calling for a higher stock market...not one of them is the least bit bearish...I can tell you that as soon as this market drops say 3-4% for the week every last one of them will say after the fact that the market needed a correction, but for now keep buying, buying and buying.
Guy Adami cautions skeptics not to stand in the way of this market. He thinks the S&P is heading to 1350. âFrom there weâll see,â he says. âBut the market has had every reason to sell-off and it hasnât done it. Thereâs no reason to think it will sell-off now.â Thatâs not to say there wonât ever be a correction. âIt could come at 1500,â he says. âBut for the time being enjoy the ride.â
Zach Karabell thinks fundamentals bode well for the bulls. âIn 2010 (and earlier in the decade) we had been seeing outflows from equity funds into emerging markets or bonds. But that trend has reversed. Thereâs a huge amount of money thatâs being re-allocated into the US market. If that continues, the rally continues,â he says. Anthony Scaramucci is also bullish âThis market looks a lot like 1995,â he explains. In other words three major factors that propelled stocks then are again in play.
âOne is valuation, two is positive balance sheet fundamentals for large caps and three is that weâre in the 3rd year of a presidential cycle and that typically bodes well for stocks. Iâm not saying we wonât see a near term correction but the fundamentals are quite strong.âEven if you think the market will pullback soon, Joe Terranova says stay with the hard trade and stay long. "The market just shakes off bad economic data and February is historically a weak month and look at the action.âKaren Finerman counsels investors to look at mega-caps. âLike an IBM [ IBM_163.40_ +0.56 (+0.34%) ],â she says. âThat stock has a lot of room to run.
Guy Adami cautions skeptics not to stand in the way of this market. He thinks the S&P is heading to 1350. âFrom there weâll see,â he says. âBut the market has had every reason to sell-off and it hasnât done it. Thereâs no reason to think it will sell-off now.â Thatâs not to say there wonât ever be a correction. âIt could come at 1500,â he says. âBut for the time being enjoy the ride.â
Zach Karabell thinks fundamentals bode well for the bulls. âIn 2010 (and earlier in the decade) we had been seeing outflows from equity funds into emerging markets or bonds. But that trend has reversed. Thereâs a huge amount of money thatâs being re-allocated into the US market. If that continues, the rally continues,â he says. Anthony Scaramucci is also bullish âThis market looks a lot like 1995,â he explains. In other words three major factors that propelled stocks then are again in play.
âOne is valuation, two is positive balance sheet fundamentals for large caps and three is that weâre in the 3rd year of a presidential cycle and that typically bodes well for stocks. Iâm not saying we wonât see a near term correction but the fundamentals are quite strong.âEven if you think the market will pullback soon, Joe Terranova says stay with the hard trade and stay long. "The market just shakes off bad economic data and February is historically a weak month and look at the action.âKaren Finerman counsels investors to look at mega-caps. âLike an IBM [ IBM_163.40_ +0.56 (+0.34%) ],â she says. âThat stock has a lot of room to run.
