Stocks continued to rise on Tuesday, continuing Monday's rally. Two bulls, Michelle Picard, fund manager at HighMark Geneva Growth, and Mike O’Rourke, chief market strategist at BTIG Bass Trading, said the markets have further room to run.
“We think there are several reasons to remain bullish,” Picard told CNBC. “There’s at least another 10 to 15 percent move in the market.”
Picard said her market predictions are supported by government stimulus, which are unlikely to abate in the near-term. She pointed out that the G-20 statement said the world's major central banks will maintain the support system in the global economy.
Picard offered CNBC her stock selection criteria: “We're looking at the earnings growth of the company and the consistency of that earnings growth...The types of companies that we buy are the more consistent, above-average earnings growers and we anticipate that they’ll do better.”
In the meantime, O’Rourke said he is also bullish on the market and added that stocks are trading below average.
“[They’re] cheap relative to history and I expect estimates to come up,” he said. “We’re going to see upward revisions to estimates going forward.”
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No immediate information was available for O’Rourke or his firm.
Picard owns both VAR & CTSH through her fund (PNMAX).