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Pros Say: US Market Hasn't Bottomed Yet

CNBC.com
Thursday, 18 Dec 2008 | 6:27 AM ET

As the end of the year closes in, volumes in global markets remain low, with many indexes trading sideways, as investors remain in government bonds for both safety and yield.

Experts told CNBC the U.S. stock market has yet to bottom and for investors to expect the bear-market rally to last until the end of 2008.

US Markets Have Yet to Bottom

Kirby Daley, senior strategist at Newedge Group does not believe the U.S. markets have clocked in the bottoms. He tells CNBC how to identify the bottom in the equity markets and the economy.

WALL STREET IN CRISIS - A CNBC SPECIAL REPORT
WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

We're in a Year-End Bear Market Rally

The markets are currently in the midst of a self-fulfilling prophecy -- an end of the year bear market rally, notes Kirby Daley, senior strategist at Newedge Group.

Waiting for the Light at the End of the Tunnel

Investors are still concerned about the credit crisis and the real estate sector. Once progress is made on those, will there be a significant bounce in the economy and a persistent bounce in stocks, Paul Nolte, director of investments at Hinsdale Associates, said.

"Any continued bad economic news will spell another retest of the lows sometime in the first half of '09," Nolte added.

Asia: The First to Recover in 2009?

Asia should be the first to recover in 2009, believes Gabriel Yap, senior dealing director at DMG and Partners Securities. He discusses how he is investing to capitalize on this.

Gloomy '09 Outlook for China's Economy

The private sector slowdown in investments could easily hit trillions of yuan in 2009, says Jerry Lou, China strategist at Morgan Stanley. Lou and Graham Hutchings, managing editor at Oxford Analytica assesses the road ahead of China.

Outlook for China's Economy

Jing Ulrich, MD & chairman for China equities at JPMorgan Securities believes that the deceleration in China's economic growth will last into the first-half of 2009.

Hedge Fund Business Likely to Contract

The hedge fund business is going to get smaller, says Tim Mulholland, managing partner at China-America Capital Company, following the Madoff scandal. And Kirby Daley, senior strategist at Newedge Group agrees.

Madoff Scandal: A Disaster for US Regulators

The Madoff scandal shows that the regulators were clearly asleep at the wheel, says Kirby Daley, senior strategist at Newedge Group. He tells CNBC that this is a disaster for the regulators.

CNBC.com

CBA Has Lost Some of its Credibility

The Commonwealth Bank of Australia has lost some of its credibility in the short-term, says Ron Cameron, senior analyst at Ord Minnett, following the debacle with its share placement earlier this week.

Santa Rally is Already Over

The December stock rally is already over, Dr. Lars Meuller from Weavering Capital told CNBC. The Santa rally was short and not very aggressive, he added.

Meuller is beginning to invest in volatility as he thinks that will be a growing theme next year.

US Jobless to Rise Further

U.S. unemployment numbers could continue to rise in the first quarter of 2009, Michael Taylor from Lombard Street Research told CNBC. A bottom should be reached in the middle of next year, he added.

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