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Dow 10,000? Experts Say Not for Long
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Special to CNBC.com
The Dow may very well pass the 10,000 mark, but any upward movement is likely to be short-lived, said Michael Church, president of Addison Capital, and Dean Barber, president and founder of Barber Financial Group.
"Ten thousand's probably a good point to start getting a little more cautious," Church said.
"We've been quite bullish for some time, particularly in energy and materials space, but I would say that we're growing cautious as the market rises, simply as a function of growing optimism."
Trouble also lurks in the upcoming holiday season, which could be another cause for a retreat, Barber said.
"For the analysts to expect that we're going to spend as much money or more money this year in the holiday season when we've got 50 percent more people unemployed, I don't see that happening," he said.
Counterpoint:
Both said they expect the market to experience larger pullbacks than it has shown so far, and Barber said there is a possibility it will retest March lows.
Still, Church said there are opportunities to invest.
Church Likes:
Waste Management [WM
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BHP Billiton [BHP
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Statoil Hydro [STO
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Barber Likes:
Oil & Gas (Short-term)
Health Care Real Estate (Long-term)
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Retailers That Topped Sales Expectations in September
Target [TGT
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Walgreen [WAG
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Macy's [M
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Disclosures:
Disclosure information was not available for Church, Barber or their companies.
Data is a real-time snapshot *Data is delayed at least 15 minutes
