"So if you have your shopping list together of stocks or ETFs you want to own, try to buy them around 1000 in the S&P and 9000 in the Dow. I don’t think you’re going to get another opportunity."
Why does Strazzullo think the Dow could get as low as 9000? "The markets are doing what they always do, the predictable, understandable thing. They’re coming back to fair value [although] not what I think is fair value."
He said the world's major indices bottomed in early 2009 and all are trying to get back to where they were trading in 2007 and 2008.
"Across the board the markets hit 75 percent of that objective," he said. "That’s why I’ve said the risk/reward doesn’t make sense. It's like walking through a mine field to pick up a quarter. There's very little gain and an awful lot to lose."
What would make him less bearish? "If the S&P gets above 1250, that would tell us that you’re getting back into the higher range," he said. "If you start to see the Dow back above 11700, that would tell me that basically the worst is over."
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Disclosure information was not available for Bill Stazzulo or his company.