Scott Wren of Wells Fargo Advisors and Lee Eugene Munson of Portfolio Asset Management shared their views on the economic outlook.
“Right now, the market is happy with the vision that we’re going to see some stabilization here,” Wren told CNBC. “We’re seeing news that is still bad, but it’s less bad than the prior month.”
But Munson said it’s going to be at least early- to mid-2010 before the economy will see any signs of a recovery.
“I think I see this momentum is starting to burn down,” said Munson. “I’d be a little more cautious and take some money off the table.”
“We are more 'long' right now than we ever have been,” he said. “We’re about 60 percent 'long,' but we have about 20 percent of our portfolio 'short.'”