Tags: Ilczyszyn | buy | US | stocks

Strategist Ilczyszyn: Now’s the Time to Buy U.S. Stocks

Wednesday, 06 Jun 2012 10:21 AM

By Dan Weil

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The Standard & Poor’s 500 Index may have dropped 10 percent from its April high, but that just creates a good opportunity to jump into the stock market, says Rich Ilczyszyn, CEO of iiTrader.com

“Where are you going to go, to the 10-year [Treasury]? Lock up cash for 10 years at 1.5 percent or less, or do you look for value?” he tells Yahoo.

“If you have cash, you start chipping away at some value stocks. . . . You can’t be scared out of the market.”

Editor's Note: Economist Unapologetically Calls Out Bernanke, Obama for Mishandling Economy. See What They Did

Ilczyszyn says the Federal Reserve is likely to implement another round of quantitative easing to buoy the economy. That accommodation should boost stocks, he says.

“I don’t buy the recession yet, because I think the bad news will be combatted by the ECB [European Central Bank], the IMF, and the Fed.”

Europe’s crisis won’t be enough to derail stocks, Ilczyszyn insists. "Ultimately the world's not going to end. Greece and Spain are not going to fall into the ocean, and we're going to get through this."

If the S&P can stay above 1,285, “I think now is the time to start buying,” Ilczyszyn says.

He’s not alone in his view.

“I’d be a buyer of stocks,” John Manley, chief equity strategist for Wells Fargo Advantage Funds, tells Bloomberg. “The U.S. economy is doing ok. . . . Valuation is attractive, and the market is cheap.”

Editor's Note: Economist Unapologetically Calls Out Bernanke, Obama for Mishandling Economy. See What They Did




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