Strategist's signal with perfect track record flashing 'buy'

Tom Lee
David Orrell | CNBC

High-yield bonds have surged since February, and that's a screaming buy signal for the stock market, if history is any guide. Every time since 1984 that there was a rally of this magnitude in junk debt, the stock market was up significantly 12 months later 100 percent of the time, according to one Wall Street strategist.

Tom Lee of Fundstrat Global Advisors told clients Friday that...