Fundstrat’s Tom Lee is issuing a warning that financial markets should be navigated with caution until the 2024 US election concludes.
In a new interview with CNBC, Lee says that investors may receive a better chance to go long in the coming weeks.
“I think investors should be cautious… For the next eight weeks…
It’s been up seven out of the eight months this year, so we know it’s an incredibly strong market…
I think in the next eight weeks, people will get a chance to buy. So I’d say be cautious but ready to buy that dip.”
When pushed on whether he foresees any upcoming “Trump trades,” Lee confirms that he does.
“Bitcoin has not acted well. The two things we’re watching in terms of election here are Bitcoin and energy…
I think the market is more starting to bet on Trump in the election.”
Lee made similar remarks in an interview with CNBC last week.
“To an extent, I think that the markets are believing Trump’s probabilities of winning are stronger than the what the polls are showing.
But I think that when the market sort of becomes more convinced of that, I think you’ll see cyclical stocks do better, small caps, and Bitcoin do better because these are really clear policy differences.
But yes to me, I think over the last couple of days the market is betting on Trump’s odds being better than the polls.”
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