Paulsen bets on no recession, time to buy the dips

Markets were mixed on Friday.

The S&P 500 dipped 0.1 percent and the Nikkei 225 fell 0.3 percent but the STOXX Europe 600 surged 2.0 perrcent.

Eric Wiegand, senior portfolio manager at US Bank Wealth Management, suggested that the stock market is experiencing “selling fatigue” after several sessions of “indiscriminate selling”.

However, Lukman Otunuga, research analyst at FXTM, wrote in a note that “it is certainly too early for any celebrations” and said that “global equity markets remain vulnerable to downside shocks”.

Still, Jim Paulsen, chief investment strategist at Leuthold, said that it is time to “buy the dips”.

“I'm betting we don't have a recession,” he told CNBC. “I think sometime in 2019, if you buy down here in this area, you'll probably be happy.”