Thursday, June 28, 2012

Charles Nenner: Stocks to Bottom This Week

Nenner sees a cyclical low coming in the next few days. He's a buyer anywhere from 1,280 to 1,230 on the S&P 500 but cautions those who are looking for a chance to buy and hold profitably.

"People looking for major moves are going to be disappointed. Timing and trading are key as stocks are going to be locked into a 5-10% range for an extended period.

Nenner's downside target for gold is $1375 to $1325 but he's a buyer in size there; his long-term target remains $2,500.

"First people lost their shirts on the stock market then the gold market. I'm afraid that now they're going to lose a lot of money on their bond positions."

No comments:

Post a Comment