On a day (Monday) when we saw the stock market crash almost 2% – a 331-point loss for the Dow Jones Industrial Average – the prospect of a 5% correction in 2015 leaves Money Morning Chief Investment Strategist Keith Fitz-Gerald unfazed.
"I'm not all that concerned about it. It's typical of patterns we've seen in 2000, 2007, and many other years – I want to stress that – where the Dow has traded off aggressively either at the tail end of the prior year or the absolute beginning of the new year like we're seeing now," Fitz-Gerald said today in an appearance on the FOX Business program "Varney & Co."
Instead, Fitz-Gerald warned of a stock market crash threat from the polar vortex.
Yes, the polar vortex. Arctic air is again creeping across the American heartland, and it brings with it overreactions in the market.
"You give us a couple of weeks of polar vortex. It begins to weigh on people's minds. Then they begin to draw conclusions and inferences that aren't there," he told host Stuart Varney. "If you look at the headlines last year, that's exactly what happened. We had a cold snap and then three weeks later everybody was talking about how it's going to affect all the numbers."
Besides talking about the weather, Fitz-Gerald gave a thumbs-up or thumbs-down to four big names that have taken a hit in the 2015 stock market crash. He takes on Tesla Motors Inc. (Nasdaq: TSLA), Amazon.com Inc. (Nasdaq: AMZN), Twitter Inc. (NYSE: TWTR), and Kinder Morgan Inc. (NYSE: KM).
To get Fitz-Gerald's verdict on these stocks, watch the video below.
Investing Tips for 2015: Making money in the stock market isn't as hard as it seems, but investors do need to follow certain rules. Fitz-Gerald has come up with three "good investing habits" that everyone can – and should – use. This advice can make you a market winner…
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