Tuesday June 23, 2015

// June 23rd, 2015 // Daily News

Tom Lee: Ignore Greece—THIS is what really matters

CNBC.com
The Greek debt drama is a “sideshow” for U.S. investors, who should be encouraged by signs of a stronger American economy, longtime stock market bull Thomas Lee said Tuesday.
“Greece isn’t the systemic risk that it was three years ago,” he told CNBC’s “Squawk Box.”
“Focus on U.S. fundamentals, which have been really good.”
Wall Street started the week with a rally, which marked the fourth gain in five sessions, and left the Nasdaq composite and small-cap Russell 2000 index at new highs. Based on Monday’s close, the S&P 500 was just 0.6 percent from its record high, while the Dow Jones industrial average was 1.3 percent away.
“I know people are fearful about rising rates and Fed tightening and what it means. But at the end of the day, we’re actually seeing reflation—the good kind of rising prices in the U.S. I think it’s bullish for capital spending and bullish for housing,” Lee said.
Those trends are going to lead to an upside earnings surprise later this year, he predicted. “I think this is going to look more like the early 1950s … [when] Fed tightening was really bullish for equities.”
Another factor that should boost U.S. stocks, according to Lee, is a catch-up rally. He said the market here is due, after under-performing stocks in European and Japan.
He advised playing old tech, financials and housing-related stocks.
Read MoreHousing is on the ‘verge of a breakout’: Technician
Lee launched his own boutique equity research firm, Fundstrat Global Advisors, after leaving JPMorgan as chief equity strategist last year.

Today’s Inspiration


Don’t Be Afraid to Stop

by Joyce Meyer – posted June 23, 2015

The thoughts and purposes of the [consistently] righteous are honest and reliable, but the counsels and designs of the wicked are treacherous.
—Proverbs 12:5

Don’t be ashamed to back off if you get out in the middle of something and find that God is not in it. Just be secure enough to simply say, “I thought this was God, but it’s not, so I am not going to do it anymore.”

You can apologize to others if you caused them any trouble or confusion. But there is no shame in quickly admitting that you were wrong. It is more important not to perpetuate a mistake than it is to keep people from thinking you were wrong. Don’t be afraid to say, “I didn’t hear from God.” Honesty will keep your day going right, all day long.

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