With the S&P 500 holding recent gains and trading 6 percent higher ytd, how should you position as the month and quarter draw to a close?
Trader Guy Adami, managing director of stockMONSTER.com, is bullish in the short-term. As he so often says, in the stock market price is truth and the price action has been constructive.
“As long as the market stays above 1325 I think you can remain long. I think the market wants to push higher – at least into the end of the week,” he says.
Trader Karen Finerman, president of Metropolitan Capital, agrees that a rally is more likely than not. She believes the expected decision from the Supreme Court on Obamacare will be a bullish catalyst.
And that's with any outcome.
“Uncertainty would be removed," she explains. "I wouldn’t be shocked to see that once the ruling comes out – all sectors trade higher - just due to relief.”
But if the market does trade up, Stephen Weiss, managing partner at Short Hills Capital, says take profits. He thinks the big picture issues generating headwinds remain potent.