[COMPLIMENTARY] Top 3 Things | Asia/Gold/Russell

GOOGL had to mention “AI” 143x at their analyst day to keep The Titanic on tilt vs. Bitcoin -13% in the last month…

1. ASIA – big divergence continues in our Long Japan vs. #out of China (for now) Asia Equity Asset Allocation. Nikkei225 continues to pound US Stocks (IWM, especially) up another +0.9% overnight to +4.7% in the last month vs. China down another -1.2% overnight in Shanghai to -1.7% in the last month (reminder we have Japan #accelerating in #Quad1 and China re-entering #Quad4 on the Old China front)
2. GOLD – bigger buying opportunity in Silver (SLV) this morning with it probing the LOW-end of its Risk Range, but I’ll be buying-more Gold on sale too (it’s not at the low-end of the Range, but getting closer with bond yields bouncing on the Long End); big lower-high for my UST 10yr Yield #VASP Signal at 3.56% so I’ll be adding to IEF (7-10yr duration), XLU, RYU, etc. today too
3. RUSSELL 2000 – as long as your Asset Allocation has 5 #BubbleCaps (no Commodities, Energy Stocks, High Yield, Crypto, or any Equity Diversification) and you just say “AI”, you’re all set (until you’re not!). Bond Yields Down didn’t = Stocks Up either with a broad basket (IWM) of them down another -0.8% yesterday, down -12.8% from where people chased at JAN 2023 month-end, crashing -28.6% from Cycle Peak  

Immediate-term @Hedgeye Risk Ranges: SP500 = 4049-4159; UST 10yr Yield = 3.29-3.56%

KM