Instead of worrying about pullbacks, Canaccord Genuity's Tony Dwyer suggests investors should be buying stocks.
Instead of worrying about pullbacks, Wall Street bull Tony Dwyer suggests investors should be buying stocks.
He calls it a"great intermediate term buy signal." A gain of 9 percent or more would take the S&P 500 back into record high territory. "We never retested. So, to say you can't have a pause in the upside would be ridiculous," Dwyer said."Rather than fearing that you go back down significantly, it's something you should try to take advantage of."
He believes any setback to the 2019 rally would be only temporary. Dwyer, who has an S&P 500 year-end target of 2,950, cites a strong economic backdrop, open credit markets and a move dovish Federal Reserve for his bull case.
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