For the final PreMarket Prep of 2019, we invited a few of our favorite guests from the year to share a bullish pick and bearish pan for 2020. To say the sentiment was overwhelmingly bullish for the broad market would be a gross understatement.
Herer's what our guests are forecasting, with timestamps from each guest appearance in parentheses.
JC Parets, All Star Charts (14:05)
Pick- Amazon.com Inc (NASDAQ: AMZN) will go “at least 50% higher,” Parets said. That would put the issue at $2,803 by the end of 2020.
Pan- 20 Year Treasury Bond ETF (NASDAQ: TLT). Parets sees a major rise in interest rates, with the 10-year Treasury rate going from its current rate of 1.9% to 3%. This would have a very negative effect on bonds and utilities.
Chirstian Fromhertz, Tribeca Trade Group (27:00)
Pick- Emerging markets or MSCI Emerging Market ETF (NYSE: EEM). Fromhertz said it’s time for emerging markets to play “catch-up” to the U.S. markets.
Pan- GameStop Corp. (NYSE: GME)
Anne-Marie Baiynd, The Trading Book (36:25)
Pick- Cyberark Software Ltd (NASDAQ: CYBR), or more broadly, the Prime Cyber Security ETF (NYSE: HACK). Baiynd is betting on companies increasing their spending on cybersecurity, and she likes the $118 level Cyberark is ending 2019 at.
Pan- Bitcoin or the Grayscale Bitcoin Trust (BTC) (OTC: GBTC). While she likes cryptocurrency as an idea, Baiynd said governments will eventually step in and squash them out in favor of fiat currency.
Dan Forman, Executive Director At Olivetree Financial (45:10)
Pick- Ambarella Inc (NASDAQ: AMBA). Forman sees Ambarella as a direct play on surveillance technology and self-driving cars.
Pan- Forman said he would shy away from legacy technology issues such as Hewlett-Packard Enterprises (NYSE: HPE) that have “zero growth.”
Kenny Glick, Hitthebid.com (53:45)
Pick- Invesco QQQ Trust Series 1 (NASDAQ: QQQ). Sticking with a fund he's been long since the financial crisis, Glick sees the QQQ rising to $250 next year.
Pan- United States Steel Corporation (NYSE: X). Glick says U.S. Steel is “Going to zero.” It's a classic “revenge trade” for him, emanating from a previous long trade earlier in the year.
Listen to the full segments with each guest in the podcast below, or watch the clip on Youtube here.
PreMarket Prep is a daily trading show hosted by prop trader Dennis Dick and former floor trader Joel Elconin. You can watch PreMarket Prep live every day from 8-9 a.m. ET here. The replay can be found on Benzinga's YouTube channel, and the podcast is on iTunes, Google Play, Soundcloud, Stitcher and Tunein.
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