NEW YORK (TheStreet) -- The three major U.S. stock indices are moving lower on Monday. Alan Valdes of DME securities told TheStreet's Debra Borchardt the"big money" -- those who manage large sums of money -- have decided to sit on the sidelines so far this year.
Strong performance in 2013 and possible uncertainty from the Federal Reserve on the horizon, giving these money managers no reason to rush into the market. He pointed out that a Monday note from Goldman Sachs suggests stocks could fall by as much as 10%.
He noted volume has remained light. It's also a confirmation that many are choosing to stay on the sidelines and avoid the potential downside risk, for now. Valdes concluded that many market participants are in a wait-and-see mode.