Parker cites lower oil prices, lower yield on the 10-year and a strong dollar as powerful bearish catalysts for stocks.
In fact, Parker believes that by year end the S&P trades 1167 in part due to his belief the earnings multiple will contract. “I see weakness,” he admits.
“The fiscal cliff, the European sovereign crisis and a hard landing in China will weight on the market. I think second half estimates are too high.”
What do you think? We want to know!
DON'T MISS: Seeking Return: Fast Money's Top Div Yielders
Posted by CNBC's Lee Brodie
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Trader disclosure: On July 9, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long PNC; Joe Terranova is long USB; Joe Terranova is long TCBI; Joe Terranova is long SBUX; Joe Terranova is long MNST; Joe Terranova is long NKE; Joe Terranova is long UPL; Joe Terranova is long NXPI; Joe Terranova is long LPX; Joe Terranova is long WFM; Joe Terranova is long APPL; Joe Terranova is long EMC; Stephanie Link is long JPM; Stephanie Link is long DD; Simon Baker is funds long ABT; Simon Baker is funds long GE; Simon Baker is funds long HD; Simon Baker is funds long MSFT; Simon Baker is funds long NKE; Simon Baker is funds long PEP; Simon Baker is funds long CRM; Simon Baker is funds long SLB; Simon Baker is funds long XHB; Simon Baker is funds long STI; Simon Baker is funds long V; Simon Baker is funds long DIS; Simon Baker is funds long WFC
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