Stocks are nearing 10% pullback, thanks to risks like coronavirus, investor Jeff Mills warns [CNBC]
Bryn Mawr Bank Corporation (BMTC)
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Source: CNBC
VIDEO 1:21 01:21 Stocks are vulnerable to a correction, top investor Jeff Mills says Investor Jeffrey Mills warns stocks are in a red zone. According to the Bryn Mawr Trust chief investment officer, the market is particularly vulnerable to a 10% pullback due to elevated headline risks coupled with high valuations. "I don't think we fully understand the scope of what's going on with the coronavirus," he told CNBC's " Yet it appears optimism is returning. The market staged a major rebound on Tuesday, with the Dow S&P 500 But Mills, a CNBC contributor, isn't abandoning his pullback forecast "I wouldn't give the all-clear sign just yet," he said. "The problem is in the very near term, what's transpired over the last couple of days has not been enough to get rid of some of the overbought signals just from a technical perspective." In just the past 12 weeks, the S&P 500 and Dow are up 8% and 6%, respectively. It's a sharp move that leaves the market open to pain. "I think every single yea
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