By CCN.com: As Donald Trump and China continue to play Russian roulette with the global economy, the Dow Jones Industrial Average is doing just fine, thank you. Fundstrat Co-Founder Thomas Lee is an uber-bull, both in the stock and crypto markets. So for him to suggest that recent stock market declines from the highs represent a chance to buy isn’t overly shocking. He told CNBC:

“I think investors should be buying this pullback.”

But he isn’t the only one. Oppenheimer Asset Management’s John Stoltzfus also participated in the panel discussion on the business network. He suggested that the latest stock market declines are not only an opportunity for investors looking to take advantage of cheap stocks that they might not otherwise be able to afford but also for traders. As of press time, the Dow and the S&P 500 had both starting erasing Tuesday’s declines and were trading modestly higher.

Oppenheimer’s Stoltzfus has a price target of 2,950 on the S&P 500. Fundstrat’s Lee recently lifted his S&P price target to 3,125. Lee also previously suggested that the Dow had more runway for gains in 2019.

My interview with @SaraEisen @CarlQuintanilla from @SquawkStreet on Tuesday's sell-off is probably just all pullbacks since 2009, a buying oppty (and binary event) and especially with @federalreserve more market friendly @fundstrat https://t.co/IDb8uSZxx1 — Thomas Lee (@fundstrat) May 8, 2019

U.S. and China Negotiations Good for the Dow

Despite the stubborn nature of both the U.S. and China in the trade talks, Oppenheimer’s Stoltzfus believes that cooler heads will prevail.

“I do expect a deal. It’s much too impractical for the U.S. and China not to come to a deal.”

He points to two upcoming dates that are “very important” to both Trump and China. These include the 2020 U.S. elections and 2025 Made in China for President Xi Jinping.

President Trump was surprisingly not afraid to roil the stock market including the S&P 500 and the Dow earlier this week. Today he sounds more optimistic.

….Guess what, that’s not going to happen! China has just informed us that they (Vice-Premier) are now coming to the U.S. to make a deal. We’ll see, but I am very happy with over $100 Billion a year in Tariffs filling U.S. coffers…great for U.S., not good for China! — Donald J. Trump (@realDonaldTrump) May 8, 2019

Hedge Fund Demand Is up

Elsewhere in the stock market, reports suggest that hedge funds are back in vogue. After fleeing these pricey and sophisticated funds in 2018, a JPMorgan report reveals that big investors are once again flocking to hedge funds. Endowments and pension funds are hunting both alpha and diversification from indexes like the Dow, features that hedge fund traders deliver when they are right. Once they start allocating capital to bitcoin, this could further provide the type of returns and hedging that big investors crave.

Hedge Fund Demand Is on Its Way Up, JPMorgan Survey Finds#hedgefundshttps://t.co/knczQfrQq9 — Gregory Silberman (@g_silberman) May 8, 2019

Dow Was Born to Run

This week has been a roller coaster ride for investors as the Dow and S&P responded to Donald Trump’s tone in tweets. Market strategists believe the fundamentals remain strong and therefore investors should buy any dip. Fundstrat’s Tom Lee says even though stocks are up 17% year-to-date, it’s not too late.

“Most institutional investors and hedge funds and retail investors have missed much of this rally. So it’s a decision point. We’re 2.5% off the highs on a binary event. … I think this is a huge buying opportunity.”

He likes industrials, technology, and financial stocks, all of which are risk-on.