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Time for market panic? Depends who you ask...

April 8, 2014: 8:38 AM ET

Strategists tell CNNMoney that stocks are headed higher.

It should be another good year for the stock market. Not spectacular, but positive.

That's the general consensus among the investment strategists CNNMoney polled in a recent survey. See the full results here.

Of course, some were more bullish than others, and one was downright bearish.

Gary Flam, a portfolio manager at Bel Air Investment Advisors, had the lowest target for the S&P 500 among the 26 investment professionals in CNNMoney's survey. He expects the index to end 2014 at 1,700, which would translate to a drop of 8% compared with 2013.

On average, the strategists are expecting the S&P 500 to rise 6.5% to 1,968.

Flam acknowledged that the outlook for economic growth has improved and some headwinds have abated. "Yet there are still significant risks that don't justify an above average multiple for the markets," he wrote in his survey response.

On the other end of the spectrum is Joseph Tatusko, Chief Investment Officer at Westport Resources. He expects the S&P 500 to gain nearly 16% this year to 2,143, based on the contention that that stocks "appear reasonably valued."

"Assuming continuing economic expansion and corporate profit growth we think a 10% to 15% return this year is achievable," Tatusko wrote.

Related: 3 cheap stock buyback plays

We also asked if a price bubble could be forming in some sectors of the market, including biotech/healthcare stocks, small-cap stocks or Bitcoin.

Some acknowledged that healthcare/biotech and small-caps were overvalued, but few were concerned about a bubble.

"Biotech is the one group that is probably closest to a bubble," said Ryan Detrick, an analyst at Schaeffer's Investment Research. "Still, the thing to remember is bubbles can last a lot longer than most think."

Biotech reckoning?

Bitcoin, on the other hand, is definitely a bubble ... except maybe it's not.

The vast majority of the strategists who responded to our survey did not offer an opinion on what the digital currency should be worth.

Related: Is the party over for small caps?

Those who did ranged from zero on the low end, to $1,000 on the high end. But even the most optimistic forecast came with a disclaimer: "Who really knows?"

The problem, some respondents said, is that it's very difficult to come up with a fair value for Bitcoin.

"Its intrinsic value is zero. Its market value is whatever everyone else thinks it's worth to everyone else," said Brian Jacobsen, portfolio strategist at Wells Fargo Funds Management. "It's like a snake eating its tail."

  • Nothing 'modest' or 'moderate' about market rally

    The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.

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  • Investors unfriend Facebook and Apple

    U.S. stocks may be on the rise but two former tech darlings are missing out on the move up. Shares of Apple and Facebook were firmly in the red Wednesday as the the Dow jumped more than 100 points for a second straight day.

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    Both companies have been struggling to impress investors this MORE

    - Jun 26, 2013 1:30 PM ET
  • Quality stocks may not have peaked yet

    The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.

    Nearly three-quarters of the stocks in the S&P 500 are trading near their 52-week highs.

    That might sound like a great excuse to sell. But strangely enough, the market's momentum may be a sign that stocks MORE

    - Apr 4, 2013 12:53 PM ET
  • Facebook entry into S&P 500 could be 'imminent'

    Facebook will make its way into the Nasdaq-100 (NDX)  next week, but the social network could find itself in the even more widely tracked S&P 500 (SPX) soon enough, too.

    According to Standard and Poor's methodology, "initial public offerings should be seasoned for 6 to 12 months before being considered for addition to an index." Facebook (FB) just celebrated its six-month birthday as a public company a little over two weeks ago.

    While MORE

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  • Black Monday: 25 years after the crash

    It was 25 years ago today when Wall Street suffered one its biggest market crashes in history.

    On October 19, 1987, the Dow Jones industrial average (INDU) tumbled 508 points, losing more than 22% of its value and marking the second-largest percentage loss in a singly day. (The worst was when the Dow lost 24% on December 12, 1914, when the New York Stock Exchange reopened after having been closed for MORE

    - Oct 19, 2012 2:53 PM ET
  • Stock exodus continues as investors yank $5.1 billion out

    The stock market keeps going up, and investors keep cashing out.

    Mutual fund investors pulled $5.1 billion out of U.S. stock mutual funds for the week ended Sept. 26. The prior week, investors removed $4.8 billion from these funds, according to data from the Investment Company Institute.

    The exodus from the stock market has picked up speed since the Federal Reserve announced another round of quantitative easing, or QE3.

    By buying more MORE

    - Oct 4, 2012 12:45 PM ET
  • S&P 500: The Apple effect

    Investors might want to stop and thank the iPhone 5's clamoring herds for a boost to their stock portfolio this year.

    Shares of Apple (AAPL) have surged 74% this year, helping the S&P 500 (SPX) log a respectable 16% increase. Take Apple out of the mix and the broad index would only have gained 14%, according to research from S&P/Dow Jones Indices.

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    - Sep 21, 2012 2:11 PM ET
  • China still lead buyer of U.S. securities

    Global demand for U.S. securities is still strong, with China remaining the largest foreign holder of U.S. debt, according to the Treasury Department's latest report on foreign holdings.

    The U.S. government's top international creditor continued to add to its holdings, albeit modestly, according to the July Treasury International Capital report, which measures the flow of funds into and out of U.S. securities, including Treasuries, agency-backed securities, corporate debt and stocks, MORE

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  • Sears to exit S&P 500

    Sears Holding Company has had its membership in the S&P 500 revoked.

    The ailing retailer, which owns Sears and K-Mart chains as well as apparel brand Land's End, will exit the index at the close of trading on Tuesday, Sept. 4, said S&P late Wednesday.

    S&P said the number of Sears shares available to the public, known as its public float, has long been below the 50% threshold needed to be considered MORE

    - Aug 30, 2012 10:55 AM ET
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