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September 3, 2024

Fundstrat’s Tom Lee Cautious on Markets Until Upcoming ‘Trump Election’ – Here’s Why

By Daily Hodl Staff

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.

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“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.

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“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.

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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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