Tom Lee: The market has already absorbed over 90% of the selling pressure, and stocks typically bottom out within the first 10% of the war progression.

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ME News message, April 1 (UTC+8), Tom Lee said in an interview with CNBC: “I think the market has already priced in 90% to 95% of the selling pressure, and the process of selling may already be over, so now we can start rebuilding the base. I think we have to recognize that in a war environment, the stock market often bottoms in the early stages. We studied every war since 1900, and in each case the stock market has bottomed within the first 10% of the war’s progression. So if this time also follows the same pattern, then we are currently in the early stage of this process. At this stage, any bit of bad news will trigger de-risking. But you also know this is why positioning is worth watching, because at some point, when people become too neutral, even if things are not that bad, the market could still see a round of a V-shaped rebound.” Tom Lee added on social media that even though the “bottom” has not yet been reached, he believes the U.S. economy can withstand $100, even $120 oil. (Source: ChainCatcher)

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