Welcome to another edition of PowerTalk. I’m your host Chris Versace, editor of the investment newsletter PowerTrend Profits and portfolio manager of the Thematic Growth Portfolio at Fabian Wealth Strategies, and these are my one-on-one conversations with the movers and shakers in the business world that take you behind the scenes and in the know. Be sure to check out ChrisVersace.com for more on PowerTrends and past editions ofPowerTalk, as well as FabianWealth.com for more on my Thematic Growth Portfolio.
I think it’s very fair to say the start to the stock market in 2014 has caught many by surprise with its sharp move lower in late January. I talked all about that last week when I shared with you my PowerTalk conversation with Lou Dobbs.
We’ve seen some life in the stock market since then, and even though the market may snap back on a technical basis, economic and industry growth concerns remain. That combination will make for a more challenging stock market in 2014, compared to 2013. The strong stock market in 2013 meant it was hard for investors to go wrong, but as we are seeing, 2014 is setting up to be a very different stock market... more of a stock picker's market.
Joining me on PowerTalk this week to discuss the recent pullback in the stock market and where it is likely to head, both in the near term and longer term, is my good friend Keith Bliss. Keith is a Senior Vice President at Cuttone & Company, the floor broker with the largest operation at the New York Stock Exchange. I've known Keith for many years now, and this is the kind of conversation that he and I have on a more-than-periodic basis. It’s an inside baseball conversation about the stock market, and I think you’ll find it very timely.
As Keith points out, investors will be dealing with volatility in the stock market as the Federal Reserve continues to taper its stimulative quantitative easing efforts. Alongside that, economic data, corporate commentary and other tea leaves will determine the direction of the stock market. After talking with Keith, I think you will be more than surprised by what he has to say.
Chris Versace is the editor of PowerTrend Brief — a FREE, weekly electronic newsletter. He also writes PowerTrend Profits, a paid monthly newsletter that helps individual investors profit through buying shares of companies poised to win big in the 8 PowerTrends, as well as writes the PowerTrader trading service that seeks to deliver short-term gains using stocks, ETFs and options. Chris has been ranked an All Star Analyst by Zacks Investment Research.