After the biggest sell off in years Tom lee says buy the sell off. Like he would have said anything else.... Why investors should buy the ongoing dip in stocks, Fundstrat says Jennifer Sor Aug 2, 2024, 10:04 AM EDT https://markets.businessinsider.com...00-buy-dip-selloff-fundstrat-july-jobs-2024-8
how much is tom lee managing? Bill Gross says don’t buy the dip as stocks crash while Warren Buffett’s moves hint at ‘sell signal’ https://finance.yahoo.com/news/bill-gross-says-don-t-190328757.html
instead we got the largest two day drop in years. Tom Lee is a perma bull. Only one worse is that moron Dan Ives who dresses like a 7 year old at Easter
The NQ has been dropping for multiple weeks. Its hardly one day. I believe the NDX is down near 12%. The truth is a slowdown actually hurts the supposed rotation trade into small caps & "value" stocks since there will still be growth in the large cap tech. That's why all the financials tanked on Friday. I've been short the consumer discretionary names like McDonalds, Mondelez, Starbucks, Nike, Lululemon, Ulta, etc. for a while now. I think the overpriced fast food places are really in big trouble. They raised prices to an absurd level where its cheaper to go to local pubs & eat food vs. going to McDonald's or Wendy's. The same goes for these junk food makers like Pepsi and their absurd pricing of soft drinks & chips. $6 for a bag of Lays chips? They were $1.99 in 2019. $12 for a 12 pack of Pepsi or Coke? They were $2.99 in 2019. The next stocks to fall will be the bloated pigs like Coke & Pepsi. And now you have the FTC looking into high food prices so the grocery chains could be the next set of stocks to fall. Even Walmart & Costco look like they have peaked.
I'm in complete awe when I see the prices for chips.....I usually.check out the prices to get a good laugh. And then you have these small.organic companies who find a niche and get product placed in these super markets and these products too are literally off the charts. They have certain cereals, cookies, jams, peanut butters....a whole variety of these type.of products that have come to market the last decade or so that sell many times over a regular brand ....but these prices these companies are charging needs an entire readjustment and that will certainly happen once the consumer slows down spending and we are in a deep recession.
The irony of Organic food prices is in theory it is suppose to be 100% local so the only rise in price should be labor cost increase from 2019. The transport cost should negligible if its truly local. Unfortunately I do see inflation in those products as well, however it is usually less inflation. I buy a lot of dairy due to my condition and Organic dairy prices are up about 15-20% which definitely less than the non-Organic dairy. Organic eggs that I buy went from $6.99 to $7.99, but the butter went up like 50% ($4.99 to $7.49). I don't really know why there is such a difference in inflation for the different dairy products. Cottage cheese barely went up at all. Maybe its based on demand as well. The craziest thing was regular white eggs went from $1.99 to $3.99, a 100% increase.