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3 Sectors to Buy on Dips: Tom Lee

3 Sectors to Buy on Dips: Tom Lee

A constellation of factors suggest that investors should wait to invest fresh money in the stock market, JPMorgan Chief U.S. Equity Strategist Tom Lee said Thursday.

On CNBC's "Fast Money," Lee noted a number of potential headwinds in the unknown effects of increasing payroll taxes, "fear-mongering" around sequestration, higher gasoline prices and credit, which "has been acting in a mixed fashion the last couple of weeks."

"So we're starting to feel as if equities are the last man standing," he added.

Lee said that "a cluster of contrarian signals" noted a slowdown.

"We got that level last week," he said.

Still, Lee remained bullish long-term on the stock market.

Specifically, the sectors with potential to gain were materials, industrials and discretionary.

"I think you still want to overweight equities all year, buy the cyclicals on dips, focus on high quality," he said. "But if you have fresh dollars to put to work and you could put them at 1,515 or 1,450, I'd rather wait to 1,450."

Trader disclosure: On Feb. 28, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long MSFT; Guy Adami is long AGU; Guy Adami is long NUE; Guy Adami is long BTU; Jon Najarian is long CRM PUTS; Jon Najarian is long MNST ; Jon Najarian is short MNST Calls; Jon Najarian is long SPY PUT SPREADS; Jon Najarian is long VIX 1:2 CALL SPREADS; Anthony Scaramucci is long AAPL; Anthony Scaramucci is long C; Anthony Scaramucci is long GS; Anthony Scaramucci is long INTC; Anthony Scaramucci is long WMT; Anthony Scaramucci is long BBRY.