Drawing lines in the sand

Our game plan

Drawing lines in the Sand

Tom Lee, the pontificator and founder of Fundstrat, keeps telling investors on CNBC to buy the dips.  JPM’s Marko Kolanovic has the same message yet mostly to no avail.  Sure, there have been some nice mini-rallies and responses to earnings like Microsoft and Amazon after getting unfairly drubbed into their prints.  The Nasdaq 100 is down 13% in 2022 while the S&P 500 is down around 7%.  The only real bull market place to hide has been energy which is a combination of massive under investment the past few years, OPEC collusion to not increase production and speculative investors driving up prices.  So, why are the market pundits above saying to buy growth and value on dips in the face of “run away” inflation, a hawkish Fed and potential war in the Ukraine?  Isn’t it the old adage of trying to plug a dam with your fingers (and you are out of fingers)?  Is it time to draw a line in the sand in the market or any particular stock you own, want to own, or add to?  Let’s discuss.