Stocks erased their losses on Wednesday as traders digested Ben Bernanke’s Fed exit strategy proposal. Are the markets still headed for a full-blown correction? Mike Rubino, president of Rubino Financial, and Scott Bileadeau, managing director of small- and mid-cap growth strategies at Fifth Third Asset Management, shared their market outlooks.
“Either the market does correct full blown at this point, or we see one more small pop to the upside before the real issues of deleveraging hit later this summer—with the mortgage resets that are coming down the line,” Rubino told CNBC.
If the markets do see a rally, Rubino said the Dow can rise as high as 11,000 to 11,300 over the next few months.
In the meantime, Bileadeau said this is a great market opportunity to buy U.S. equities.
“Corporate profits this quarter have been absolutely stellar,” he said. “Numbers are good and have gone up…I don’t see how stocks go down dramatically.”
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No immediate information was available for Bileadeau or Rubino.