Stocks jumped at the open and kept climbing on Thursday, following the previous session's late-day selloff. Can the markets hold the gains until the close? Christopher Hobart, CEO and founder of Hobart Financial Group, and Tyler Vernon, chief investment officer at Biltmore Capital, offered their insights.
“I’d love to tell you that the storm is clearing, but I think that’s a dream right now,” Hobart told CNBC.
“We’re looking for significant volatility over the next couple of weeks and months, and the average investor needs to be very careful right now.”
Hobart said he sees a downside risk of 500 to 1,000 point drop on the Dow over the next month, if the global issues such as the sovereign debt crisis in Europe and lending policy rumors in China don’t get resolved. Read more
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