Risk On! Fundstrat’s Tom Lee Spots a ‘Huge Buying Opp’ in Stocks
The Dow and S&P 500 are up by double digits year-to-date, but it’s not too late to participate. | Source: Shutterstock
By CCN: As Donald Trump and China continue to play Russian roulette with the global economy, the Dow Jones Industrial Average is doing just fine, thank you. Fundstrat Co-Founder Thomas Lee is an uber-bull, both in the stock and crypto markets. So for him to suggest that recent stock market declines from the highs represent a chance to buy isn’t overly shocking. He told CNBC:
“I think investors should be buying this pullback.”
But he isn’t the only one. Oppenheimer Asset Management’s John Stoltzfus also participated in the panel discussion on the business network. He suggested that the latest stock market declines are not only an opportunity for investors looking to take advantage of cheap stocks that they might not otherwise be able to afford but also for traders. As of press time, the Dow and the S&P 500 had both starting erasing Tuesday’s declines and were trading modestly higher.
Oppenheimer’s Stoltzfus has a price target of 2,950 on the S&P 500. Fundstrat’s Lee recently lifted his S&P price target to 3,125. Lee also previously suggested that the Dow had more runway for gains in 2019.
My interview with @SaraEisen @CarlQuintanilla from @SquawkStreet on Tuesday’s sell-off is probably just all pullbacks since 2009, a buying oppty (and binary event) and especially with @federalreserve more market friendly @fundstrat https://t.co/IDb8uSZxx1
— Thomas Lee (@fundstrat) May 8, 2019