Also in this playlist...
This transcript is automatically generated
The market's hitting new highs almost daily today included it seems like this rally will go on forever -- it seems.
Nothing goes on forever people but my next guest says.
Don't rush into the markets at this very point up back in August he predicted the -- market correction and he was right.
And now he's at it again right here on Fox Business let's Robert street talk advisors CEO.
Joining me now from Houston and -- what are you predicting now.
Well -- unfortunately I.
Kanye and I get together and -- always catch a ride at the market peak and so on the -- I get to be the bearer of bad news.
But look this is simply a function that you know prices can only move so -- one direction and I wrote an article yesterday talking about this very thing is that.
We are currently has extended to the upside.
As we have been at the peak of the last two major bull market -- so I'm not saying that this is -- the end of the bull market run I'm just saying that.
When you stretch a rubber band as far as you can't and one direction you've got to have it relax before you can get another run in the markets and and that's all looking here and you know so when you look at your portfolio.
Latest -- that eagle -- those gains off the table let's not be too greedy so I'm thinking and you've made this analogy to do some spring cleaning and and gardening and away his start turning the dead branches.
Well not really looks dead here or does it what should people be cutting and pruning out of their portfolio -- -- -- said that back then again that it is a great analogy because you if we plant a garden and we don't harvest the fruit the vegetables from the garden.
They want -- dying on the vine and so if you have positions your portfolio I think one area and I'm a little bit concerned about.
And yet the stocks that they're -- every time I'm with you we talk about the Johnson and Johnson's the Procter & -- the Kellogg's.
They've had huge runs here are really just since December.
And the valuations are getting a little extended here in this kind of this dividend -- so there's a place to take some profits that doesn't mean pull the whole tomato plant out -- the ground.
Just take some of the tomatoes off the -- so we can grow knew what.
It's yet hundreds of you have gone so so you're saying that the let me just -- -- these names so our viewers know.
Procter & Gamble Johnson & Johnson -- all time hot by the -- for Procter gamble Clorox and Kellogg those are ripe tomatoes.
What's still has a little -- at this point that you would want to leave on the vine.
Well this did -- in the -- is there really over over ripe for really that the kind of the interesting point because those are defensive sectors health care staples those are doing well.
What are the areas that I would probably leave alone right now to have some more run potentially is energy -- hasn't participated as well but oil prices remain high.
And technology's been a little bit of a laggard here I think there's still some -- to go as we get closer toward.
The summer OK so that who leads me to my next question you know you see opportunity in the market -- But now I look and I say what would be what do you see as the catalyst that would force a correction.
Because we haven't seen it yet -- I didn't do it the sequestered didn't exactly do it.
And he what is it what do you anticipate try and let us know because people are -- and haven't seen that there waiting and we keep -- Right after regular.
But they what if I can get in the actual fortune telling part of my business right I'm hoping a whole -- business but.
That the reality is is that you know and -- market price is very extended you never know exactly what's going to be the triggered usually it's something we're not even expecting.
But here's some of my big concerns.
Earnings are getting -- bit weaker earnings growth has been deteriorating if we -- are we a really weak -- season that could be a problem.
Economic numbers as of late the trends in particular in terms of some of the bigger areas like consumer spending have been trending lower -- that could potentially run into a promise summer.
And the big thing is.
The budget deficit debt ceiling debate that's coming up after may go back and remember we we had that you've got bad back to that again we had gotten eleven.
And that it costs and thanks for the markets at that really doesn't go well.
OK and don't don't worry when you say I feel -- -- bearer of bad news we just want what's right we just want the right news so that people are prepared for their portfolios -- thank you very much it's great to see you absolutely.
Let's record straight times.
All the right angles on how to trim from your portfolio -- clean -- spring gardening and cleaning.
Filter by section