- Spain's Debt Costs Near Danger Level: Is Bailout Next?
- China Economic Rebalancing Only Geographical
- US Markets Will Be Watching Europe—And Jobs Report
- India's Tumbling Rupee Roils Convertible Bond Market
- Samsung Galaxy S3 Gets Head Start on iPhone
- Greek Contagion Could Drag Euro Below $1.19: Charts
- Japan's Marubeni Nears $5 Billion-Plus Gavilon Deal
- European Companies Plan for Greek Unrest and Euro Exit
- Public Pensions Faulted for Bets on Rosy Returns
MOST SHARED
- China Rebalances Economy by Shifting Focus Inland
- Japan Retail Sales Rise as Consumer Sentiment Improves
- Greece Pours $22.6 Billion Into Four Biggest Banks
- Greece to Leave Euro Zone on June 18: Wealth Manager
- Spain's Borrowing Costs Near Danger Level: Bailout Next?
- Are Investors Running Out of Safe Havens to Put Money?
- European Firms Plan for Greek Unrest and Euro Exit
- India's Tumbling Rupee Triggers Convertible Bond Turmoil
- Asian Stocks Decline on Spanish Debt Woes
- Euro Wobbles Near 2-Year Low After Spanish Yields Rise
MOST POPULAR
HOT ON FACEBOOK
There Is a 50% Chance of US Double-Dip: Strategist
Text Size 
There will be a short-term pullback after Thanksgiving in stock markets and there is a 50 percent chance that the US economy will double-dip, according to Paul Schatz, president of Heritage Capital.
“We’re going to probably have a short term pull back after Thanksgiving to the first, second week of December, but from there, like most pullbacks we’ve seen, it will be a time to buy, not sell,” Schatz told CNBC Wednesday.
During this buying opportunity, investors should look to large-cap pharmaceuticals which are trading “absolutely wonderfully,” he said, and technology stocks because “until technology falters, it’s going to be one of the leadership groups."
The economy isn’t safe though, he warned, because “there is no real recovery; it’s not sustainable.”
The government has propped the economy with free money, he said, but it will not be able to “stand on its own two feet,” when it has to, in either the first or second quarter of next year, according to Schatz.
Because of this, the US economy has a 50 percent chance of double-dipping, he said, adding that “the government is doing all of the wrong things; that’s the problem.”
-For the full interview, see video clip above
Click here for additional CNBC interview with Paul Schatz
Data is a real-time snapshot *Data is delayed at least 15 minutes
