Gold hit record highs for a fifth consecutive sessionafter the Federal Reserve implied it is ready to inject more cash into the US economy, knocking the dollar and stimulating appetite for precious metal. Meanwhile, the Dow is creeping up nearer the 11,000 level. So where should investors be putting their money?
Dirk van Dijk, senior equity strategist at Zacks.com, and Rich Ilczyszyn, senior market strategist at Lind-Waldock, discussed their outlooks.
“Overall, we’re in a recovery and corporate earnings are doing very nicely,” van Dijk told CNBC.
Van Dijk noted that the third year of a presidential cycle is “always the best” for stocks—especially when a Democrat is in office.
Ilczyszyn: 'I'm Not Convinced'
Meanwhile, Ilczyszyn said he is putting his money in gold and sees the commodity hitting $1,325 an ounce by year-end.
“At this point, stocks could creep higher, but I’m not convinced in stocks until we get big volume.”
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Scorecard—What They Said:
- Ilczyszyn's Previous Appearance on CNBC (Sept. 13, 2010)
- Van Dijk's Previous Appearance on CNBC (Jul. 26, 2010)
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More Market Intelligence:
- Traders: Fed Gave Investors Good News—or Bad?
- Gold Rush: Get In On the Rally?
- This Is a ‘Short-Covering Rally’—Take Profits Now!
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CNBC Slideshows:
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CNBC Data Pages:
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Wednesday's Top Dow Laggards (as of this writing):
Microsoft
Hewlett-Packard
American Express
Walt Disney
JPMorgan Chase
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Disclosures:
No immediate information was available for van Dijk or Ilczyszyn.
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