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

'I think the lows are probably in. But I don't think we're going to get right up and run the hundred yard dash here either,' Wall Street veteran Jeff Saut said.

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.

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