Does Financials Rally = Market Bottom?

Financial stocks are rallying Tuesday. Is this the start of the market bottom — or merely a bear-market rally?

Frederic Dickson, chief market strategist at D.A. Davidson & Co., and Jack Ablin, chief investment officer at Harris Private Bank offered their insights to CNBC.

"We continue to see this as a bottom-formation play," said Dickson.

  • 13 Top Financials — 24-Hour CNBC Data

He doesn't believe the full market rebound will happen until a certain condition is met: "We're looking for improvement in the credit markets." He augured small positive "trickle-in effects" from the Obama administration's stimulus plans giving the markets a small lift in "April and May."

Ablin was less certain, except for short-term moves: "There should be a little bounce to the upside," he said.

But as far as predicting the bottom and full recovery, he confessed, "I don't have a clue. Gauging my own psychology is impossible, let alone the market's psychology."

They Are The Champions:


Bank of America

JPMorgan Chase


Wells Fargo



Disclosure information was not available for Dickson, Ablin or their companies.