Sit Tight, Market Choppiness Ahead 

Friday, 15 Jun 2007 | 11:17 AM ET

Larry Smith, chief investment officer at Third Wave Global Investors, told CNBC’s “Squawk on the Street” that he sees a choppy market ahead.

Pre-Market Buzz
Instant analysis before the market open, with Larry Smith, Third Wave Global Investors CIO and CNBC's Erin Burnett

“I’m a bull over the next six to 12 months, but I think we have some choppy waters ahead over the next six weeks or so,” Smith said Friday. “I don’t think the market has fully incorporated the fact that long bond has just gone from 4.50% to 5.20% and even though it may have rallied from 5.30%, 5.20% is still a pretty big number relative to 4.50% where it was just a few months ago.”

He urged investors to sit tight for now.

“I think this is a time to be very cautious on equities,” Smith said. “I would not be an ebullient bull running out and buying anything I could get my hands on. I would be sitting tight and waiting for the next four to six weeks to unfold.”



  • Showtimes

    United States
    Monday - Friday 9a ET
    Monday - Friday 15:00 CET
    Monday - Friday 21:00 SIN/HK
    Monday - Friday 23:00 SYD
    New Zealand
    Tuesday - Saturday 01:00 NZ
  • Carl Quintanilla is an Emmy-winning reporter and co-anchor of CNBC's "Squawk on the Street," broadcast live from the NYSE.

  • Simon Hobbs co-anchors the 10 a.m. hour of CNBC's "Squawk on the Street" live from the New York Stock Exchange.

  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

  • Co-anchor of CNBC's "Squawk on the Street," David Faber also is a co-producer of CNBC's original documentaries.

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.