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Long-Term Bull Turns Bearish for 2013

Thursday, 13 Dec 2012 | 5:45 PM ET
Long-Term Bull Turns Bearish for 2013
Positive market catalysts have run out of steam for next year, says Marc Chaikin, CEO of Chaikin Analytics.

Positive market catalysts have run out of steam for next year, Marc Chaikin of Chaikin Analytics said Thursday.

On "Fast Money," the former bull turned bearish: "The three things that drove the market were the presidential cycle in 2012, the fact that our markets were undervalued relative to Europe and Apple, driving our whole consumer-technology complex," he said. "And all of three of those are going to be missing in '13. Factor in the 'fiscal cliff,' and there's a lot of uncertainty going forward."


Chaikin wasn't looking for the Federal Reserve to a fix, either.

"In March of 2013, the bull market'll be four years old. That's pretty long in the tooth," he said. "We all know the liquidity factor from the Fed and boosting asset prices, but that's yesterday's news.

"I think it's a great time to play defense."

Chaikin saw stronger headwinds for high-end retailers such as Coach and Tiffany, citing consumers' economic concerns.

One stock bucked his bearish outlook: Yahoo.

"The key here is that they're hiring engineers," he said, adding that positive sentiment on the Street — Goldman Sachs raised its price target to $24 — was not to be ignored.

"I would actually buy it under $19," he said. "I wouldn't exit the trade if I was an investor. We're talking about investments here; $24 is not going to happen overnight."

Chaikin also praised new CEO Marissa Meyer.

"In four and a half months, she's turned around the psychology at Yahoo," he said.

Trader disclosure: On Dec. 13, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long INTC; Tim Seymour is long YHOO; Tim Seymour is long WMT; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long GS; Anthony Scaramucci is long SBUX; Anthony Scaramucci is long MSFT; Anthony Scaramucci is long GOOG; Steve Grasso is long AET; Steve Grasso is long ASTM; Steve Grasso is long AUO; Steve Grasso is long BA; Steve Grasso is long F; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long P; Steve Grasso is long PXD; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long WYNN; Steve Grasso is funds long MSFT; Steve Grasso is funds long SLB; Steve Grasso is funds long HPQ; Steve Grasso is funds long ZNGA; Steve Grasso is funds long DELL.

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