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October Looks Great for Stocks: Analyst
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Forget 1929, 1987 or even 2008: October is a good month for stocks. So said Jordan Kotick of Barclays Capital, who offered CNBC his market insights going into the fourth quarter.
Stocks logged their best quarter in 11 years, as of Wednesday's close of U.S. trading. Kotick said the best is yet to come.
He pointed to several different indicators and trends collated "since 1950" — including more recent developments in the Russian and Saudi Arabian stock markets — which he said prove that the fear of October is unfounded.
"The odds of an advance are 50 to 60 percent," Kotick said. "And the median return is positive."
"If we don't get a correction over the next couple of weeks, then the risk isn't until the end of the year — and you'll get a 'melt-up' in equities," Kotick declared.
For his take on the US Dollar, Yen and oil-stock market relationships, watch the full interview.
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CNBC's Companies in the News:
Bank of America [BAC
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Yum! Brands [YUM
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CIT Group [CIT
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Chevron [CVX
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Toyota Motor [TMC
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Disclosures:
Disclosure information was not available for Kotick or his company.
Data is a real-time snapshot *Data is delayed at least 15 minutes
