Wall Street veteran Jeff Saut: 'I don't trust the first rally,' but market likely hit its bottom

Wall Street veteran Jeff Saut said the market may have reached its bottom, but advised investors to be cautious."I think the lows are probably in. But I don't think we're going to get right up and run the 100-yard dash here either," the chief investment strategist at Capital Wealth Planning said.Wall Street veteran Jeff Saut advised investors to take a nuanced view of the stock market's gains Tuesday.

, he said it will take time before there's a sustained sprint to the upside.Power Lunch"I think the lows are probably in. But I don't think we're going to get right up and run the 100-yard dash here either," added Saut, chief investment strategist at Capital Wealth Planning.as investors processed news that the U.S. government is considering fiscal stimulus measures to offset the economic consequences of the coronavirus.

What a non-sense. Was there a cure? Are there less infected? Did they find a measure to prevent the recession? All NO. Dead cat bounce.

Every event has its own nuances - so while I would take notice I wouldn't assume this will follow the exact same pattern as before.

Dead cat bounce.

It only takes one dead famous guy for the market to CRASH again.

Bull$hit

Nope.

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