Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

On my Asia Shorts signaling immediate-term TRADE #oversold (that means COVER SOME again), is that signaling “Global Contagion.” A: No. My new Long Indonesia (IDX) position was +2.1% overnight to +4.6% in the last month… and…

If you look at our Systemic Contagion Risk Tracker (see Chart of The Day with all of that data) this morning, measures of perceived risks remain sedated.

Did I believe that my Yankees were going to beat the Red Sox last night? A: Yes. Was that the right position to have bet on? As Adam Grant likes to say, “the joy of being wrong” is that you get to learn something about your beliefs every day.

CHART OF THE DAY: Systemic Contagion Risk Tracker - 10 6 2021 7 38 19 AM