Should you trust the Wall Street strategists and their predictions for 2011?
They're bullish that's for sure with most expecting a turbo-charged year for emerging markets -- as well as Boeing. Yes Boeing.
Check out what they're saying, on average:
Street Consensus
S&P 500 + 9 %
Asia (ex Japan) + 30%
China + 20%
Emerging Markets + 30%
Source: Birinyi Associates
Dow Stocks 2011 - Average Analyst Target
Boeing to rise 32%
JPmorgan to rise 24%
3M to rise 14%
Source: Birinyi Associates
What should you make of it?
Instant Insights with the Fast Money traders
I think the estimates are way overblow, says JJ Kinahan. Of all the estimates I think the only one that’s close to accurate is the S&P, which I think will be up around 6%.
I think the S&P will be up much more than 9%, counters Brian Kelly. I expect investors will put money to work in the US because we’re in much better shape than the rest of the world.
I agree that the 2011 will be the year of the US, says Steve Cortes. I love America and Apple pie and long the US dollar. But I’m also very negative on Europe.
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Trader disclosure: On December 31st, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Cortes is short (XRT) vs. S&P; Cortes is short (XHB) vs. S&P; Cortes is short (LVS); Cortes is short (BCS); Cortes owns (TSN); Cortes owns (EXC); Cortes is long USD vs. Mexican peso; Cortes is long Treasury Bonds; Cortes is short Gold; Cortes is short Corn; Kinahan owns (BAC); Kinahan owns (C); Kinahan owns (CSCO), is short (CSCO) calls; Kinahan owns (GE), is short (GE) calls and puts; Kinahan owns (MSFT), is short (MSFT) puts; Kinahan is short (NFLX); Kinahan owns (ORCL); Kinahan is short (SPY); Kinahan owns (YHOO), is short (YHOO) calls; Kinhan owns (MOS) and (MOS) calls; Weiss owns (NFLX) puts; Weiss owns (VZ); Weiss owns (FAS); Weiss owns (QCOM); Weiss owns (NIHD); Weiss owns (JWN); Weiss owns (FNSR); Weiss owns (INFN); Weiss owns (OCLR); Boockvar owns (FXI); Boockvar owns (EWJ); Boockvar owns (GLD); Boockvar owns (MMM); Boockvar owns (NKE); Boockvar is short (IWM); Boockvar is short (SPY)
BRIAN KELLY
Accounts Managed by Kanundrum Capital own (FCX)
Accounts Managed by Kanundrum Capital own (GLD)
Accounts Managed by Kanundrum Capital own (GDX)
Accounts Managed by Kanundrum Capital own (GDXJ)
Accounts Managed by Kanundrum Capital own (SWC)
Accounts Managed by Kanundrum Capital own (XLE)
Accounts Managed by Kanundrum Capital own (OIH)
Accounts Managed by Kanundrum Capital own (JPM)
Accounts Managed by Kanundrum Capital own (WFC)
Accounts Managed by Kanundrum Capital own (BBT)
Accounts Managed by Kanundrum Capital own USD
Accounts Managed by Kanundrum Capital own (TBT)
Accounts Managed by Kanundrum Capital own (SLV)
Accounts Managed by Kanundrum Capital own (MCP)
Accounts Managed by Kanundrum Capital are short the Euro
BRIAN STUTLAND
Stutland's firm is a market maker in and owns VIX and SPX options
Stutland's firm is a market maker and holds future positions in VIX
COLIN GILLIS
Gillis has no disclosures
PETER SCHIFF
Schiff has no disclosures
MICHAEL J. WOLF
Wolf has no disclosures
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CNBC.com with wires.
