TOM LEE ON BITCOIN – I HAVEN’T BEEN BULLISH ENOUGH! #Finance

how’s it going everyone it’s Sam Tom Lee just went into CNBC and talked about why he’s not bullish enough he also talks about how he thinks Bitcoin is going to do very soon if you don’t mind hit subscribe turn on the Bell notification underneath the CashNews.co to

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necessarily been quite as as strong as it had been in some of your other calls where it there’s been a time where you said the Inflation data will be so good that the S&P will be up 200 points in the next week and and it it panned out and it played um right into what you

were saying the last time you were on I think your basic thesis was that Markets still solid through the end of the year but in the meantime there could be uh some volatility and maybe even a

pullback now I think you’re saying it’s been more stable than what you’re expecting and it has to do with Liquidity and cash on the sidelines more than anything else yes that’s right um you’re right we’ve kind of been sort of I think fooled by

seasonality because we thought Markets would be hesitant before you know the elections and it’s October but we’ve you know we’ve seen this Market be incredibly resilient so

I’ve underestimated how strong this Market’s been I I think it really shows macro data is a becoming less important and it’s now the fact that a lot of cash has been on the sidelines you know for the last two years investors expected a recession or many thought when the curve un

inverts we got a recession but at the end of the day there’s $6 trillion of cash on the sidelines and October has turned out to be a great month we’ve seen it evidence of what you’re saying and I know how closely you watch it we’ve seen it on a daily basis over the last

I’d say maybe month or so where many days we even down triple digits in the Futures only to end up 250 or 300 points by by the end of the session and with no uh backdrop of of positive news nothing to account for other than it seems like there’s money on the sidelines

that’s coming in I mean it feels like investors are under invested in stocks I think there’s people who’ve dreaded uh 2024 thinking this is the year we slip into a recession and instead uh and we’re seeing it with earnings companies have been really resilient yeah

we’ve waited we waited and waited and waited to retest the lows a couple of times in 2022 and 2023 and people weren’t um bullish at all we didn’t get uh gr advances and now it’s it’s almost Unstoppable and nothing seems to be able to knock it off a track whether

it’s I mean I think the PPI and CPI were both a little hotter uh than people thought they uh the they Prospect for a Fed continued easing cycle are now open to some conjecture I think although most people say it’s still going to happen even though things are are pretty solid in both the

economy and the Stock Market yeah I mean I think it makes sense for the FED to be doish because because Inflation is still tracking especially PC towards their 2% Target and now we have some concerns about the job market so I think the FED has to be supportive and

I think this election which uh is becoming less of a coin toss I think because it’s been a coin toss people have been sitting on their hands I think these are reasons Markets are

starting to have conviction even in front of an election EV that I think we’ve soft pedal it too the swing states have have even some of the Swing states that look like Solly in Harris’s Camp are now truly swing states are trumps up in Michigan and Wisconsin and and betting and

everything else uh and you know if NBC goes from Trump up or from Harris up five to Trump and Harris tied and then you do a full field and Trump is actually up in a full field thing so I I think you might be right bitcoin’s at 65,000 you wouldn’t say that the Stock

Market’s performing better because it’s starting to look like it’s less of a coin toss would you I I think Markets like visibility so if if it looks like one

candidate is now looking like to be the surprise winner then Markets can actually trade better before the election wait wait does it matter you said like

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Markets like visibility they they have to like what they see on the other side of it I would see assume yes uh I mean I’m probably just citing Market history but whether Trump or Harris wins I think stocks do pretty well

next year uh sort of a post- elction rally but there are definitely differences in sectors and asset classes performance depending if Trump or Biden Trump or Harris wins but you know Bitcoin for instance is something to watch if Trump looks like he’s strengthening because Trump is running on

a pro Bitcoin platform all right now you said something get get off of that uh the politics you said that you thought agreed with almost the asymmetric risk now and and I I still think it could go the other way I mean I think the labor market looks pretty solid given that last report and that

we’re still if pce is 3% % we’re still it’s got to go down another 33% to hit two and they swore they’re not moving the gold post it’s two it’s two it’s two it’s not two and a half Tom it’s two yes and what makes you think that that’s

that’s in the car who who knows with the Middle East and everything else but oil’s back to you know mid 70s and could go higher uh I I just I’m more worried about it I don’t know they’re more worried about the jobs picture than uh stubborn Inflation uh

yeah I mean you’re you’re actually right oil spikes can cause an Inflation Spike and that would that would be a surprise um but if we look at what was it’s been keeping Inflation stubbornly high it’s been shelter which in the latest

Inflation report finally is rolling over and it’s auto Insurance which is now just beginning to Sunset so in the second half auto Insurance becomes a tailwind and then the question would be if are core Goods going to stay under pressure to

kind of bring overall Inflation down and it looks like core Inflation sorry on Goods um looks like it’s going to remain soft so I think Inflation doesn’t have the the upside drivers except for what you’re saying a commodity shop

so Tom Lee talks about how certain sectors certain uh Assets will do better depending on who wins the election but right now it doesn’t look like the Markets are real

scared of the election at this point they’re racing up there’s a lot of money that has been sidelined that is now coming into the market because rates are lowering Liquidity is going up Global Liquidity is going up so while some people are sitting here

saying you know it would be really bad if comma won uh KLA Harris won uh for Crypto the fact is I think text-decoration: none;">Crypto is going to do fine either way while it might run a little bit harder depending on who actually is the president now Tom Lee has talked before about different Assets that he’s interested in that he thinks will do well uh if you ever want me

to break that down let me know in the comments section of course do your own research there is a link to Marx underneath the CashNews.co in case you want to trade Cryptocurrencies as I said at

the beginning you can sign up under the link down there and you can start trading today as I’ve said I think this is a very bullish time for Crypto I think you want long positions ready

and that’s why I’ve been placing a lot of them and I am ready I’m taking advantage right now I’m up hundreds of percent on some of these on some of these positions so definitely check this out underneath the CashNews.co thank you so much and I’ll see you all in the

next one bye for