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Market Tips: Dollar Rally Is Over, Go Long Gold

CNBC.com
Tuesday, 7 Apr 2009 | 8:08 AM ET

Global stocks were mixed Tuesday with the banks dragging the most after noted analysts Meredith Whitney and Mike Mayo warned on the sector ahead of U.S. earnings season. Experts tell CNBC that more pain is ahead for financials and as a result, investors should avoid them.

End of Dollar Rally

We have probably seen the best of U.S. dollar strength this year, believes John Kyriakopoulos, head of currency strategist at NAB Capital. He outlines what will weigh on the currency going forward.

Long on Gold

Gold is the only commodity to be in on the long side, says John Licata, chief investment strategist at Blue Phoneix.

Avoid US Financial Titans

Avoid U.S. financials that are systemically important and have a large consumer exposure, like Citigroup, Bank of America and Wells Fargo, advises James Falkiner, director & CEO of Falkiner Global Investors. He explains why in this installment of "Protect Your Wealth".

The Worst Ain't Over for Financials

The worst is still some way down for the financials, so the market may take another big dive, warns Kevin Scully, MD at NRA Capital. He tells CNBC why he thinks the changes to mark-to-market accounting rules won't help.

Banking Sector at Bottoming Process

Financials offer tremendous opportunities ahead, says Bill Smith, president, CEO and senior portfolio manager at SAM Advisors. He tells CNBC that the existence of a government bank plan gives clarity and will provide cushion for banks going forward.

Bank Stocks Riskier than Vegas

"I would rather be in Vegas than be looking at bank stocks right now," Tyler Vernon from Biltmore Capital Advisors told CNBC. Vernon also said that the SEC’s uptick rule could result in a great short-term bounce for stocks.

HSI at 16,000 by Year-End

Fan Cheuk Wan, MD & head of research, Asia Pacific at Credit Suisse Private Banking Division sees the Hang Seng hitting 16,000 by year-end. But she tells CNBC that profit-taking pressure will likely build up when companies turn in their first-quarter results.

Oil to Near $70 by Year End

In March, OPEC decided that they couldn't cut oil output until economies begin to recover. Neil Atkinson from KBC Market Services told CNBC that oil will end 2009 with a price slightly below $70 a barrel.

Contact Europe: Economy

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