In an interview to CNBC-TV18, Ryan Detrick, chief strategist of Schaeffer's Investment indicated that they are happy that the year is over. Moreover, he hopes the New Year to be positive for the markets. "We are definitely on the bull camp here," he added.
He further expects the Dow and the S&P to have a 15-20% gain next year. Here is the edited transcript of his interview to CNBC-TV18. Also watch the accompanying video. Q: Is the mood contemplative on the last day of the year or are you happy that the year is over?
A: We are happy that this year is over. The Dow is up 6% for the year and S&P is virtually flat. It has been a very volatile year, yet we take a step back and reflect a bit. We have gone nowhere, so it has been frustrating, but there are definitely some positives as we look into the next year. Q: Where do you see the dollar headed next year? The currency bit has been most interesting, especially from an emerging market point of view.
A: The dollar has recently found some strength. With this kind of move, it has moved to safe haven world. Schaeffer
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