The rich are spending big time, but I continue to wonder if it's only them driving business for certain retailers, like car dealerships. According to TrueCar, sales of "expensive cars" - those that cost at least $50,000 -- are up 30%, versus 4% for cars under $50,000.
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That brings me to another stock idea – Tesla (NASDAQ:TSLA).
Tesla came down a lot recently, because of this whole notion that somehow somebody who was thinking about buying a Tesla is going to change their mind because now gas is cheap. Odd correlation in my mind.
Admittedly, this is a stock that has some other issues, particularly when it comes to valuation. I've been on top of this thing for many, many years. It started at 30 bucks, loaded up again at $100 when CEO Elon Musk bought some shares. I think at $200, I like it here. It's not necessarily for the faint of heart, but one day, I say this will be a $300 stock.