Next Pullback Will Be a Buying Opportunity: Strategists
Are there any buying opportunities for investors on the horizon? Jeffrey Saut, chief investment strategist at Raymond James, and Douglas Cliggott, chief investment officer at Dover Management, shared their market oulooks.
“We’re in the process of making a short-term top here and we’ll get a pullback—but it’s a buy on that pullback,” Saut told CNBC. “And I think we’ll end up higher by year-end.”
However, Saut said he is more worried about 2010 than between now and the end of the year.
In the meantime, Cliggott said the Federal Reserve’s decision to extend its asset-buying program into 2010 will determine how the markets act.
“It’s not a surprise—[The Fed is] not buying Treasurys and suddenly the market isn’t moving anymore,” he said.
Cliggott said investors should look into opportunities in the utilities and pharmaceuticals area.
No immediate information was available for Cliggott or Saut.
Top Pharmaceutical Companies:
Johnson & Johnson