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Markets to Peak in Late January: Strategist

Friday, 15 Jan 2010 | 10:48 AM ET

Markets opened lower on Friday and Marc Pado, U.S. market strategist at Cantor Fitzgerald, speculated investors will be taking in profits ahead of the three-day weekend. What should we expect going forward? He shared his market insight.

Market Edge
Bob Auer, of the Auer Growth Fund, and Marc Pado, of Cantor Fitzgerald, share their investment strategies.

“We’re headed into a strong earnings season, we’re moving higher,” Pado told CNBC.

“We expect to reach some sort of peak in the last week of January and then we’ll be set up for a correction.”

Pado said the markets have rallied for 10 months and now may see a “substantial pullback.” He added that high unemployment rates will also be a catalyst for bringing the market lower.

“In the near-term, you do have to go to the defensive stocks and then we’re looking for a shift to technology back in the summer, because technology really is leading the way and will continue to lead the way in the long term,” he said.

  • Watch Pado's Previous Appearance on CNBC (Dec. 24, 2009)

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Disclosures:

No immediate information was available for Pado or his firm.

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