The Great Bull Market in Stocks Is Nearing Death
The aging bull market may soon finally come to an end, according to one markets pro.
"We think we're closer to the end of this bull market than we are to the beginning," said John Eade, president of Argus Research to TheStreet. "Once we cycle through this up earnings period, investors may want to start thinking more cautiously or defensively."
Eade noted that investors who need funds within the next two to three years may want to reduce exposure to stocks, particularly high multiple stocks. "Those could be at risk," he said.
The S&P 500 is up 11.6% since the start of the year.
One key person probably doesn't agree.
Kiss legend Gene Simmons is on a hot streak predicting the stock market. It was only back in January just after the election of Donald Trump as president that Simmons predicted the Dow would rocket higher.
"My belief is that as soon as Donald Trump takes power, and as soon as he lowers the amount of taxes that people on the street are going to have to pay, watch the 20,000 ceiling on the Dow break," Simmons told TheStreet in a Jan. 7 interview.
With the Dow now hovering over 22,000, Simmons has unleashed his next call.
"We will be at 23,000," Simmons told Thestreet in a new interview (below). Simmons thinks the Dow will ultimately eclipse 23,000.
"What's happening now is that with the president -- whether you agree or disagree with him -- he will make moves that will lower taxes and make it easier for businesses."
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