Stocks reversed their losses and traded higher on Thursday, as the dollar gained against the euro amid Europe debt worries. Where are the markets headed from this point? Tommy Williams, president of Williams Financial Advisors, and John Brady, senior vice president at MF Global, shared their outlooks.
“This is a time when we’re reminded that buy-hold and hope is a dead philosophy—that you have to have a sale discipline,” Williams told CNBC.
Williams said he expects the year to be volatile for markets, but stocks will eventually finish higher by year-end.
“When you have earnings reports where the majority come out beating expectations and yet the market goes down because of sidewinds, that tells you that this is going to be a choppy year,” he said.
In the meantime, Brady recommended that investors move their money to the sidelines.
“In times like this when there’s a lack of clarity, investors are best to move to the sidelines and maintain a slightly more defensive position than they usually otherwise would,” he said. “I probably would go into cash."
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No immediate information was available for Brady or Williams.