Thomas Lee is a Managing Partner and the Head of Research at Fundstrat Global Advisors. He is characterized as a Perma Bull. To be frank, in Equities, a Perma Bull is much better than a Perma Bear.
He does seem to get a lot of heat for his bullish views from the pessimist crowd. I do not care too much about how he is viewed. If you are an amateur, you tend to always hate the opposite view. In this business, you will be wrong a lot. As investors and traders, we are just looking to limit our risk and drawdowns.
In any case, I was wondering about the impact of Tax Day selling. Here is what Uncle Tom said about the receivables going to Uncle Sam.
This could be true. I thought the weakness these past few days had to do with some selling related to raising cash to pay taxes. I do not have figures — and it is too late at this point.
So maybe – we will get a few green days in Equities.
Nasdaq was up from the lows and futures are slightly green.
A short-term buy signal is probably on the way! The 4-hour chart for the $SPY futures is already triggered.
Nasdaq remains to be seen .
Good luck!
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