Some Bullish Talk
Rob Morgan, chief investment strategist at Fulcrum Securities, and Marc Pado, US market strategist at Cantor Fitzgerald, gave a bullish assessment of the stock market on CNBC recently. Their bullishness is largely based on recent sentiment surveys and major newspaper headlines indicating investors are quitting the stock market.
In another interview at CNBC , Wayne Kaufman, chief market analyst at John Thomas Financial, pointed out that the market traditionally rallies after the second-year presidential cycle going into the third.
:
“Historically, you have on average in the last seven cycles, a 50 percent increase from the second-year bottom, which, if the bottom was July 1 at 1,010 [on the S&P 500], that average will take you up to 1,500. It’s very hard to argue with that type of a bullish history.”
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