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S&P Could Still Hit 1,600 Year-End: Bannister

Market forces could still line up to send the S&P 500 toward his 1,600 year-end target, Barry Bannister of Stifel Nicolaus said Tuesday on CNBC.

"This market's pretty slippery," he said on "Fast Money." "As you know we had a 15 percent run from June to September, and that was just the central banks. If the politics fall in line in November in the U.S., China and Europe, then things could rally."

Bannister said that the presidential debates β€” and the perceived strength of Republican candidate Mitt Romney β€” might have been the trigger.

Specifically, he called out Romney's "anti-central-bank" sentiment.

"If you think about Japan, which faced a similar balance-sheet recession, that's exactly the wrong prescription, and so this market's probably reacting to that somewhat," he said.

Bannister's top sectors were financials, materials, technology and energy.

"What we need is to go out the year with a little more confidence and an upward revaluation of equities, and that's got to occur in the political sphere," he added.

Trader disclosure: On Oct. 23, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: BOB PECK IS LONG FACEBOOK; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is long NFLX; Karen Finerman is short SPY; Karen Finerman is short MDY; Karen Finerman is short IWM; Tim Seymour is long BAC; Tim Seymour is long SBUX; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long INTC; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Dan Nathan is long GS NOV 115/110 PUT SPREAD; Dan Nathan is long JPM NOV 47/40 PUT SPREAD; Dan Nathan is long MS JAN 10/5 142 PUT SPREAD; Dan Nathan is long YHOO JAN 17.5 CALLS; Dan Nathan is long AZN NOV 230/210 PUT SPREAD; Dan Nathan is long CHK JAN 12.50 PUTS.

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