A rare up day for bear baskets drew a golf clap from Keith McCullough … and not much else. 

In this clip from The Macro Show, Hedgeye’s CEO explains why one-day and one-week performance doesn’t change his outlook for style factors experiencing months long declines. 

“That’s terrible,” McCullough says of High Short Interest (-12.4% 1-month and -14% 3-month). “They had an up day. That’s great. Nice job, High Short Interest.” 

“I won’t buy some raging POS that’s levered in a rising interest rate environment,” he adds. “(Shorting) these things has been phenomenal.”  

Watch the full clip above. 

McCullough: Don’t Buy Raging POS Levered in a Rising Interest Rate Environment - TMS Banner