March ‘Going to Be Real Ugly’: Taylor

March 'Going to Be Real Ugly': John Taylor

While still bullish on stocks long-term, John Taylor of FX Concepts says that market indicators point to a short-term Valentine's Day peak.

While still bullish on stocks long-term, John Taylor of FX Concepts said Thursday that market indicators point to a short-term Valentine's Day peak.

"Our stuff says March is going to be a real ugly month, and we thought the peak would come right around Valentine's Day," he said on CNBC's "Fast Money."

Taylor made a point to say he wasn't bearish.

"I don't think there's a long-term bear case on stocks," he said. "I actually like stocks into the fourth quarter. But I mean I'm much more of a market timer, and our stuff is saying the time is bad right now."

Taylor said that Europe could help lead the stock market lower due to uncertainty in Italy and Spain.

But the euro rally would not necessarily pause for long, he added.

"I think it's maybe done for the next month or so," Taylor said, after which it would likely "rally again" as the world economy strengthens into the fourth quarter.

Asked why he wouldn't buy just gold as a hedge, Taylor further explained his outlook.

"Buy gold on March 31. Let's say that," he said. "When everybody gets a little depressed, actually gold goes down. When people get optimistic, gold goes up, and I think March is going to be a depressing month."

Trader disclosure: On Feb. 14, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long SJM; Joe Terranova is long MJN; Joe Terranova is long AXP; Joe Terranova is long JPM; Joe Terranova is long DIS; Joe Terranova is long FB; Joe Terranova is long BRKB; Joe Terranova is long GS; Joe Terranova is long SWN; Joe Terranova is long XOM; Stephen Weis is long TBF; Stephen Weis is long WLT; Stephen Weis is long BAC; Stephen Weis is long C; Stephen Weis is long AIG; Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long CSCO; Stephanie Link is long SBUX; Stephanie Link is long AIG; Simon Baker is long BAC; Simon Baker is long GOOG; Simon Baker is long KRFT.