While this week's stocks rally isn't making long-term believers out of many people, it does have market pros excited about being able to cover damage caused by recent woes on Wall Street.
Investors have jumped into the market as early earnings results are showing that financials are in better shape than Wall Street expected. Some have sold into the rally as a way to recover losses on previously beaten-down shares.
But while stocks spiked Thursday on JPMorgan Chase's [ JPM 39.12
+0.84 (+2.19%) ] better-than-expected results and another steep drop in oil prices, there remained a level of trepidation over what could lie ahead.
That has investment advisers cautioning their clients that stock upticks are unlikely to last and that a true market bottom probably is still off in the distance somewhere.
"It's a Sucker's Rally"
"It's a sucker's rally," Kathy Boyle, president of Chapin Hill Advisors, says of this week's market move. "If you make money here, don't get greedy."
Market pros are taking in earnings reports and economic data to try to assess the future, with an especially keen focus on what financials are doing and what to expect ahead.
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