Markets Headed for a Double Dip Recession:

Markets Headed For a Double-Dip Recession

Posted By: JeeYeon Park | CNBC News Associate

CNBC.com

| 24 May 2010 | 03:56 PM ET

Stocks headed lower on Monday, continuing almost a month of losses. Is this a correction—and if so, how long will it last? Alan Lancz, president of Alan B. Lancz & Associates, and Ronald Carson, founder and chief executive of Carson Wealth Management Group, shared their market outlooks.

“I see a lot of downside in the market,” Carson told CNBC.

“This process of just hoping things are going to go up hasn’t worked for a decade and we’re quite confident that it’s not going to work for another decade.”

Carson said he sees the S&P dropping near 500 to 700 and “could get even lower.”

“I think we’re going to have a double-dip recession—this time next year, we’re going to be in a recession,” he said. “Housing is going to lead the way.”

Lancz: Seize the Opportunity

In the meantime, Lancz said this is a good opportunity for investors to selectively buy on the dips.

“The economies are doing better globally—what we’re doing is utilizing this weakness to add high-quality companies like ExxonMobil and Baxter and we’re going to add the higher beta stocks* as the market goes down,” he said. “Investors have to be nimble—I don’t think it’s an all-bull or all-bear.”

“We’re going to have a volatile market and you take advantage of the violent swings,” Lancz added.

*Beta: a measure of a stock's volatility relative to the market. Generally, the higher the beta, the higher the risk.

*The opinions voiced in this article are not intended as advice, and may or may not come to pass.  Indexes are unmanaged and cannot be invested into directly.