What’ll Get Me Back Into Market: Najarian
After recently exiting the stock market completely, OptionMonster's Jon Najarian revealed on Friday what would make him jump back in.
On "Fast Money," Najarian said that worries in the first few weeks of January about extension of the federal debt ceiling would push the stock market lower.
"I would like to see that same sort of panic that lifts us into the mid-20s for the VIX. I don't want to see that, folks," he said. "I'll get back in because I anticipate that panic."
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Najarian said that he expected to see more of the same kind of political gridlock that has marked efforts to avoid the series of tax hikes and spending cuts known as the "fiscal cliff."
"They will do the same thing with the debt ceiling, and that's why I think we're going to see a pop in the VIX," he added.
Rosecliff Capital's Mike Murphy was also skeptical that any budget agreement would be position, arguing that the type of deal would matter.
Stephen Weiss of Short Hills Capital was not a fan of the current market situation, taking issue with the idea that the market would soar on a budget deal in Washington.
"I don't think you do anything," he said.