Salient to Investors:
- Craig Hodges at Hodges Small Cap Fund said any slump in the market will be temporary and a buying opportunity as there is still a lot of money on the sidelines. Hodges is 10 percent in cash, and likes airlines.
- Greg Taylor at Aurion Capital Mgmt said they are getting their buy tickets ready.
- Raymond James says equities are vulnerable.
- Citigroup is concerned about a severe pullback.
- Douglas Ramsey at Leuthold said they are cutting stock holdings in tactical funds to 60 percent from 65 percent on expectation of a 6 to 8 percent correction this summer before the market resumes later in 2014.
- Mark Luschini at Janney Montgomery Scott said over the long-term equities are supported by an expanding economy and improving labor market, and there is still too much sideline cash at too many under-invested institutional investors that would quickly put a floor under equities.
- The S&P 500 is at 18 times earnings, the highest since 2010.
- The S&P 500 put/call ratio is 2.1, the most since 2008. The VIX call-to-put ratio of 3.7 is the highest since before the financial crisis.
- The median economists predicts half2 GDP will grow 3.1 percent.
Read the full article at http://www.bloomberg.com/news/2014-07-11/investors-keep-faith-in-u-s-stocks-as-dip-gives-buy-sign.html
Click here to receive free and immediate email alerts of the latest forecasts.