I don't think I've said I think stocks will be lower, if I did I misspoke. What I believe rather is that stocks still aren't a good deal. They can go up this year for all I care, I don't think the risk/reward is worth it yet. But if they go down further then I'll invest again, because then I think I'll be adequately compensated for the risk I'm taking.
Off topic, it's interesting that I hear people on this board frequently make prognostications, such as 'Treasury bonds are going to get hammered' or 'yields are too low', but they don't get called out for that forecast. But if you make a judgment call on stocks people quickly remind you that you can't predict the future.