Brace for a 15%-20% pullback in stocks, BTIG's Julian Emanuel warns (via TradingNation)
and economic lockdowns, renewed trade frictions with China and the November presidential election as serious near-term headwinds.Emanuel breaks out"They've had an absolutely enormous run," he said. "We just think up 50% [from the low] obviously given the risks, particularly the fact that the government is delaying the next round of stimulus which we think is necessary."Despite Emanuel's cautious tone, he predicts 2021 will be drastically different.
"Our view is that you get into the fall and you get into early next year, likely there's enough time for the economy to find its footing, for there to be medical advances and we can envision new all-time highs at some point in 2021, unquestionable," Emanuel said.
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