Despite the drawback in stocks Friday, Bill Spiropoulous of CoreStates Capital Advisors told CNBC that the market recovery “is in full swing” — while Joe Heider of Dawson Wealth Management said investors “can’t call the bottom” yet.
(See below for their investment recommendations.)
“[Today’s opening] is a little pull-back,” said Spiropoulous. “We’ve got to give the bear some hope that they’re not going to get totally crushed—but that’s coming. Be patient.”
He said this is a good opportunity for investors to start putting their cash to work.
“I think there are tremendous opportunities out there. To be 100 percent cash and hiding on the sidelines sucking your thumb is not a valid strategy,” said Spiropoulous.
Heider disagreed: “To be very honest, we freely admit that we can’t call the bottom,” said Heider. “And if anything, the last 15 months has told us we have no credible pundit that called bottoms and suggested when it was time to get out and when to get back in.”