On CNBC’s “The Final Call,” Carter Worth said that interest rate areas are “sensitive to what’s going on in the long end of the curve.”
“I don’t like them,” he added. Worth said he was going short on both SPDR S&P Regional Banking ETF KRE and iShares US Real Estate ETF IYR.
Check out other overvalued stocks making moves in the premarket.
Tim Seymour said that markets are “a function of sentiment and positioning as well as fundamentals.
“We’ve never been this net short on S&P futures,” Seymour mentioned. “Cash levels and hedge funds are over 6%, which is very high and sentiment is awful,” he added. Seymour advised investors to remember that “there is a lot of bad priced into this market as well.”
Mike Khouw advised to make bearish bets with put spreads for a “risk managed way.”
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