Tom Lee’s ‘Everlong’ SPX Target

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6 • 757 Ratings

🗓️ 24 June 2024

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dan Nathan returns from his grand European tour and joins Guy Adami to discuss current market trends. They explore the implications of recent activities in the SPX, including divergences between the market cap weighted and equal weight indices, and delve into Tom Lee's bullish 15,000 S&P 500 prediction by 2030. Other topics include Nvidia's recent insider selling patterns and the potential influence on stock performance, FedEx's upcoming earnings as a potential market indicator, and the impact of AI and tech investments on the broader market. What We're Reading Why Tom Lee Thinks We Could See S&P 15000 by 2030 (Bloomberg) The stock market is in its longest stretch without a 2% sell-off since the financial crisis (CNBC) Nvidia Sales Grow So Fast That Wall Street Can’t Keep Up (Bloomberg) Charlie Bilello on the equal weight S&P 500 lagging behind Jason Goepfert on Nvidia insider Selling ZeroHedge: 80% of the S&P has entered buyback blackout window: Goldman Subscribe to our newsletter: https://riskreversalmedia.beehiiv.com/subscribe — About the Show: On The Tape is a weekly podcast with CNBC Fast Money’s Guy Adami, Dan Nathan and Danny Moses. They’re offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we’re here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. — Check out our show notes here See what adding futures can do for you at cmegroup.com/onthetape. — Shoot us an email at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod on Twitter or @riskreversalmedia on Threads — We’re on social: Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Young @LizYoungStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Transcript

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0:00.0	Guy, welcome to the Monday edition of the On the Tape podcast. I'm back, baby. A lot going on this morning. How you doing, man?
0:09.6	Welcome back, Dan, Nathan. It's great to have you back. A lot is going on. It's funny. We were just talking before this show, and I said, you know, a lot has changed, but a lot has remained the same since you left. So I think it's interesting when you go
0:21.6	away for a week, eight, nine days, whatever it is, and you only watch the market sort of from afar,
0:28.0	you're not laser focused every two minutes staring at whatever's moving on that particular
0:33.1	point in time. Sometimes things get a lot clearer and sometimes things get a lot more confusing. But
0:38.8	with that said, in our world, at least, it's healthy to get away and be able to sort of take a
0:43.9	fresh look when you get back. No doubt. Again, I think that's a really great point. For me, I'm looking
0:49.4	at things more from the macro level rather than digging in from the bottoms up. But, you know, you get back
0:54.8	on a week like this and you say, all right, we're, you know, not far from a holiday week. We know
0:59.6	that the first week of July will be kind of quiet, but there's a lot going on. And, you know,
1:03.4	we'll hit a little bit today just the SPX, the market cap weighted index versus the equal weight. It continues to just kind of blow out to levels we
1:12.4	haven't seen in a while. There seems to be no fear in the SPX guy with a VIX, you know, under 14 or so.
1:19.3	Our friend Tom Lee over at Fundstrap put a 15,000 target on the S&P 500 by the end of 2030. And this one's kind of interesting. We're seeing,
1:30.3	this is from Goldman. We're seeing blackouts and in buybacks as we head into quarter end,
1:35.2	into earnings, which are going to get started, Q2 earnings sometime in July. But we also have to
1:39.7	hit the invidia, the insider sales that's going on there. So more clarity on the Apple AI strategy guy.
1:47.2	We, of course, have to talk about the yen.
1:48.8	Bitcoin's getting crushed.
1:50.2	And there's earnings before we get to all that.
1:52.1	So we got a lot to do in a short period of time.
1:54.0	We've got to kind of address the elephant in the room or so.
1:57.6	Unfortunately, Taylor Swift is feeling a little bit of shade from Dave Grohl.
	...

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