Stocks turned lower Friday as taxes in the health bill roiled Wall Street. Scott Redler, chief strategic officer at T3live.com, and Mike Rubino, president of Rubino Financial, shared their insights.
“Our short-term indicator suggests that the market might rise a little bit into April to mid-May,” Rubino told CNBC.
“But it’s the near-term indicators that turn downwards very strongly after May—and the health care-istas in Washington are the ones that can be a big part of the big decline that comes.”
Rubino said investors should be prepared on the conservative side. (Scroll down to see his picks.)
“We like conservative trades like the dollar—if things do get worse here and around the world, the dollar is going to be where everyone goes to as a safe haven,” he said. “Rates are going to go up whether the economy picks up or people lose confidence, so shorting Treasurys is also a very conservative move.”
If the U.S. economy does poorly, the rest of the world will follow, added Rubino.
“We’re still the engine of the free world and capitalism,” he said. “If our engine stalls, the world stalls. So there will be no safe havens if indeed that comes to pass.”Page 1 of 3 | Next Page