Loading ...as the DOW has been up 35 and down 25…going nowhere
I got whipsawed for about a grand so far this week by that…I gotta post a note on my computer screen to remember what tom lee said=
Fundstrat’s Tom Lee thinks this dynamic may explain much of the sharp market rally we’ve seen in recent days despite the persistence of disconcerting headlines (e.g. coronavirus, U.S. political uncertainty).
“There is just not enough S&P 500 to go around,” Fundstrat’s Tom Lee said in a note to clients on Thursday. “The S&P 500 is about $25 trillion in market cap and there is $300 trillion of global household liquid assets.
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Lee also notes that U.S. stocks further benefit from being heavily exposed to the U.S. economy where the data continues to improve as the rest of the world stagnates.