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Market oomph? Not so much, bear says

Thursday, 19 Sep 2013 | 6:19 PM ET
We don't see more market oomph: Bear
Thursday, 19 Sep 2013 | 5:31 PM ET
There are three strong reasons to be short this market, Brad Lamensdorf of the Ranger Equity Bear Fund says.

There's good reason to be short this market, Brad Lamensdorf of the Ranger Equity Bear Fund said Thursday.

"I think that the liquidity and the QE has been beaten to death, frankly," he said. "We've gone up for five straight years in a row. We've had tremendous multiple expansion within sight of all the indexes. I just don't see where we're going to get that extra oomph to continue this up and up and up and up."

Lamensdorf, portfolio manager for the AdvisorShares Ranger Equity Bear exchange-traded fund, had seen a 23 percent year-to-date loss.

(Read more: 'Don't stay at the party too long': CIO)

"We really have had a lot of names that have blown up," he said, noting that he had held short positions in IBM, PAY and the miners. "But we are not an alpha shop. We are not going to lose our negative, inverse correlation to the S&P 500. We've got 50, 60 positions in our portfolio."

On CNBC's "Fast Money," Lamensdorf said that his top short name was 3D Systems, citing co-portfolio manager John Del Vecchio's Del Vecchio Earnings Quality Index.

(Read more: 'Lots of opportunities' in market: Pimco CEO)

"It is the No. 1 worst-rated name within sight of that entire index, and we have about 1,000 stocks within that index," Lamensdorf said.

The company, he added, had a poor balance sheet, had cash flow falling off and had terrible earnings quality.

(Read more: 'Ultimate Stock Picker' names top 3 trades)

"It just started appearing over the last quarter," he said.

By CNBC's Bruno J. Navarro. Follow him on Twitter @Bruno_J_Navarro.

— CNBC's Torrey Kleinman contributed research to this report.

Trader disclosure: On Sept. 19, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long TGT; Karen Finerman is long GOOG; Karen Finerman is long M; Karen Finerman is long JCP; Karen Finerman is long RTY PUTS; Karen Finerman is long MDY PUTS; Karen Finerman is long SPY; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long BBRY; Steve Grasso is long GDX; Steve Grasso is long GOOG; Steve Grasso is long HERO; Steve Grasso is long HPQ; Steve Grasso is long MHY; Steve Grasso is long LNG; Steve Grasso is long MJNA; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long QCOM; Steve Grasso is long S; Steve Grasso is long ASTM; Steve Grasso is long POT; Steve Grasso is long DECK; Steve Grasso is long DHI; Steve Grasso is long EEM; Tim Seymour is long BAC; Tim Seymour is long INTC; Tim Seymour is long SBUX; Tim Seymour is long X; Tim Seymour is long LO; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long MSFT; Guy Adami is long AGU; Guy Adami is long NUE; Guy Adami is long BTU; Guy Adami's wife, Linda Snow, works at Merck.

  Price   Change %Change
HDGE
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IBM
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PAY
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S&P 500
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DDD
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