DISCLAIMER: THE FOLLOWING "Cashin' In Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cashin' In Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.
Is the best yet to come?
October 9, 2002: 7,286
Friday’s close: 9,582
The Dow’s up more than 2000 points in a little over a year. So why do so many in our group say we ain’t seen nothing yet?
Dave Nelson of DC Nelson Asset Management says that despite last week’s volatility the best is yet to come. He says you need to forget the day-to-day noise and concentrate on the longer-term trend, which he says is up. He says assets are coming into the U.S. and that is bullish for the market.
Dagen McDowell of Fox Business News points out that the November, December, January stretch has historically been the best three-month span for stocks, and she says $20 billion has come into stock funds in the last couple of weeks, which means stock fund managers will be buying stocks.
Wayne Rogers of Wayne Rogers & Company says earnings make the market move, and earnings have been relatively strong.
Jonathan Hoenig of Capitalistpig Asset Management says you can’t bet on just anything, but he agrees the momentum is with stocks right now, though he sees more opportunity in international stocks than in U.S. companies.
Hilary Kramer of A&G Capital says we are going into an election year, which is generally a catalyst for a higher market.
Which stocks will make you the most money between now and the end of the year? We got our group’s best bets!
Hilary: Nextel (NXTL)
Friday's close: $22.09
Hilary says Nextel is going to clean up when cell phone customers are allowed to switch services and keep their old numbers because Nextel offers the best value. Dave says this was a great investment last year, but he’s not sure about now. Jonathan wouldn’t bet against it, but he wouldn’t bet on it now either. Wayne says the there is momentum in the stock and he doesn’t see it slowing yet.
Dave: Alcoa (AA)
Friday's close: $29.16
Dave says commodity prices are rising and China’s demand for aluminum is going to keep the prices high for aluminum which will help to boost Alocoa’s profits and stock price to the end of the year. Hilary doesn’t agree. Wayne thinks it’s a good company, but he says it will take a lot longer than to the end of the year for this stock to show a significant return. Jonathan says this is one way to play higher commodity prices, which is one trend he’s been watching.
Jonathan: Citigroup Investments Corporate Loan Fund (TLI)
Friday's close: $14.66
Jonathan says this is a play on rising interest rates. Hilary says this is not a time for the fixed income market; she does not like the pick. Wayne likes the pick. He thinks interest rates are going higher and this fund will benefit.