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Pros Say: S&P at 'Critical Level'

Monday, 13 Jul 2009 | 1:03 PM ET

Stocks turned negative as energy prices continued an aggressive slide and outweighed a surge in banking stocks. Stocks were mixed earlier as banking leaders jumped on positive comments from analyst Meredith Whitney but technology stocks slumped amid economic worries. Read and listen to what the experts had to say…

Markets to Retreat Further

"We've been going through this wave of indecision for the past 2 to 3 weeks, which I really think is going to give way to further retreats, not only in the U.S. but also in emerging markets and the FTSE," said Ashraf Laidi of CMC Markets.

S&P at ‘Critical Level’

The S&P 500 is at a critical level and could see sharp declines or gainsdepending on what happens over the next two weeks, said Dodge Dorland from Landor Capital Management. "We see a lot of trading and volatility that doesn’t make sense in the longer-term point of view. So investors on the sidelines are probably going to have much more conviction to be able to put money to work," he said.

S&P Buying Zone Between 770 and 800

The S&P 500 has broken below a key head-and-shoulders pattern, which signals the index will be weak until October — but it won’t revisit the lows seen in March, said Robin Griffiths of Cazenove Capital. "We'll see a half to two-thirds retracement of the March rally. So it gives us a buying zone between 770 and 800 on the S&P," he said.

Where is Oil Headed?

Kevin Book of Clearview Energy Partners said although oil prices are going to stay at the current rate for the rest of the year, it will eventually turn around and rise higher.

Why Private Equities and Boutique Firms are Thriving

"Right now is an excellent time for private equity," said Bob Long of Conversus Asset Management. "Private equity has historically earned its best returns during periods of dislocation and difficulty in the markets."

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