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Zacks.com senior equity strategist Jared Levy expresses his belief that there will be a market pullback.
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On track to score another winning month Dow disappear or near record highs to really go from here.
Joining us with much more Zacks dot com senior equity strategist chaired the house which is fair and now he's been here could be here -- to get dates it -- -- weather's been awful the I thought about what I think about that's -- -- So much better today -- you know I've been talking for the past two months I've got a little bit more bullish and I haven't gotten more bullish because the markets have gotten that much better.
It's it's just really fit.
There's no other place to go -- there's a lot of momentum now and this economic data just this sort of status quo we just fine.
-- and its testing -- Investors are not looking for anything crazy right now they're not looking for blow -- numbers for anything because remember there's the -- from the Fed that if things get too good we're gonna pull the punch bowl.
Well what actually get the retail -- back.
With that the retail I have a wanna come back I mean really you you guys the traders -- anyone's really making money these days.
Well then that's partially true and I think a lot of the lives of the fact that the retail trader looks around him -- her and sees that things aren't that good right they see businesses still failing -- see you know companies closing down you know -- -- JPMorgan I believe it is Langer and -- laying off folks so.
That the point being is.
On main street hasn't gotten that much better -- but remember investors thought about.
It's objectivity it's about subjectivity it's about what we feel as traders -- right now -- on the trading side markets moving moment.
Everybody you know we at this all time high you don't buy that we might have often pull back off 5% you think we'll keep going I buy that an end you know -- -- I'm glad you brought that up -- if you look at the Russell 2000.
It's actually been making a series of lower highs and lower levels over the past couple of weeks which is indicative of pullback look at the -- because the small caps -- Folks are investing in small caps for taking bigger risks if if the Russell start to look weak to me about the way it has to hit 919 it doesn't that next day or two.
We're probably guess you sharp pullback washing -- really closely.
But I think it's over it's easily get -- factors that you talked about in -- Makiko.
Let's talk about -- where some of these retail investors should put their money I got I got -- apple for -- you -- short it.
It's once it -- 700 U shorted on the way down what do you do when it now.
We've talked about couple -- it's come down and I think -- shaken out sort of the you know the -- -- -- traders -- -- now did the folks who remain an apple are the diehards apple the news is all out you know we know that they they've kind of got off track we know that the they're going to be releasing probably.
Cheap right right.
I think they'll actually be good in the short term I don't like apple long term I think it's losing some its disaster I think it's cheap enough where if you bought here.
You shouldn't get hurt too much and I think the long term upside is is 22 point 5% over the next couple of months here to -- I'm buying him a cat -- also -- some reits let's talk about then you got two on your list today.
You -- Mac have PMT is one that I -- You -- -- as one of the stocks where it it's not very well -- -- what you need to know is this.
Pay Mack is the stock that basically buys distressed debt -- -- Mortgages that there are performing to get in -- pays an army guys came in and in India in in the message 2002009.
Got up at some stuff that's on making their money.
They're spinning off their mortgage origination business but stocks cheap enough that got the earnings growth it's a really good deal and you hit beneficial tax -- on every two years well.
-- yours well what are the other things he would talk about housing right what people want to make money with housing.
You know thinking its return to stay low for the while I don't particularly like housing so much I'm not jazzed about -- couple stocks that you like other Rainier lumber company.
Executing our timber look at look at price of -- through the roof.
-- now everyone is doing any kind of constructions complaining about I'm -- -- like nothing you have Ryland homes on your list as well.
And with -- warehouse or charities in the studio thank you very good -- interest rates stuff all right let all the cash they have business class without the hefty ticket price for a small for.
