Show Entire Article
Another day in the red for global markets with Asian stocks down heavily. Hong Kong and Japan sold off more than 5 percent and European markets opened over 2 percent lower, as economic fears dominated trade.
Some experts tout defensive strategies, but others see blue-chip rallies in the making.
S&P Poised to Take Off
The S&P 500 index may move toward 1,100 and maybe higher by the end of the year, according to Christopher Locke from Oystertrade.com. Locke expects gold to possibly fall further in the near term, but rise back to the $850 level by year end.
Beware of Sharp Turns in S&P 500
The S&P 500 index is to head higher from here for the short term, but be careful of the "exceptionally sharp turns", Tom Hougaard, chief market strategist at City Index, said. However, if the index falls below 900, then the Dow could hit 6,930 by mid-December, Hougaard warned.
"If gold ever comes back down to ($) 650, I will be buying again for my long-term portfolio," Hougaard told CNBC.
Hougaard also said he was looking at investing in water.
Continue to Stay Defensive
Continue to stay defensive, says Karma Wilson, head of Asia equities at AMP Capital Investors. She highlights sectors like consumer staples, utilities and telcos.
Risk Aversion May Return
Page 1 of 3 | Next PageShow Entire Article
More Top Stories