'Fast Money' Recap: A January to Forget
The Street - about 4 years
NEW YORK (TheStreet) -- The S&P 500 finished January down nearly 4%, the worst January performance since 2010. On CNBC's "Fast Money" TV show, Brian Kelly, founder of Brian Kelly Capital, said volatility is likely to stay in the market, which will be unable to rally until the emerging market issues are solved. He reasoned that equities would go lower. Steve Grasso, director of institutional sales at Stuart Frankel & Company, said the S&P 500 seems likely to break the 100-day moving average to the downside, and eventually work its way down to the 200-day moving average near 1,700. Josh Brown, CEO and co-founder of Ritholtz Wealth Management, said the market is turning into a "risk-off environment" where investors do not want to be in equities at the moment. He noted that the $12 billion in fund outflows was the largest weekly outflow of U.S. equities since 2012. Tim Seymour, managing partner of Triogem Asset Management, said emerging market scares are nothing new. He re...
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