Toptrader: Prepare for a market adjustment in the summer

Trader Peter Kosta enters the "top traders" list on the floor of the New York Stock Exchange. He is the president of Empire Executions.
And Costa has one warning to investors - "tighten your belts."
"I would say that there is a correction that we will be going through until August," the trader said in an interview with the financial magazine "The Street". "Summer will most likely be an obstacle for investors," Costa said.
According to him, the correction would be a "gradual decrease" rather than a flash crisis, as observed in August 2015. Then, the main reason for the decline in indices were concerns about China.
The decline, which, according to Costa, will not be within the traditional 10% that we are accustomed to observing historically, can be triggered by the discontinued investigations into Russia's interference in US presidential elections last year.
But Costa recalls that the adjustments are healthy, giving investors good opportunities to rebalance their portfolios.
Otherwise, in terms of so popular FANG shares, including the first letters of the Facebook, Amazon, Netflix and Google/Alphabet names, according to Costa, the shares of these companies could rise by another 50%. However, the risks faced by the technology sector make the investments in these companies at the present time unjustified.
"You have a share traded at 237 times of your profit - come on!", Commented the expert.
The ratio of Netflix is ​​214 times the profit for the last 12 months.