Marc Chaikin Turns Cautious on Stock Market for 2013
Marc Chaikin, CEO of Chaikin Stock Research, was interviewed on CNBC’s Fast Money last week. Chaikin, who has been bullish in the past, expressed caution regarding stock market returns in 2013. Chaikin has contributed a number of articles at Seeking Alpha [link].
To back his negative outlook Chaikin said the market has been rallying for nearly four years now which is “pretty long in the tooth.” “We all know about the liquidity factor from the Fed boosting asset prices, but that’s yesterdays news,” Chaikin added. He also cited the first year of the presidential cycle which could hold the market back. “I think it’s a great time to play defense,” Chaikin said.
The interview continued with Chaikin discussing his “Power Gauge” on Apple (AAPL), why high-end luxury retailers are a sell, and why he likes Yahoo (YHOO).