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POSITION: Long Utilities (XLU)

So I’m like a Perma-Bull now, right? All I do is buy-the-dips.

From a quantitative setup perspective, not a lot has changed day-over-day other than our getting opportunities to get longer (on a net basis) by covering shorts and patiently buying longs. Italy being a mess and US Housing Double Dipping are calls we’ve been making for over a year.

This morning I moved the Hedgeye Portfolio to 14 LONGS and 7 SHORTS (right back to where I was last Thursday morning). Most of the big levels that matter are similar. Fear (VIX) is being sold more aggressively now. That inverse relationship to US Equities needs to be respected.

Updated risk management lines across durations: 

  1. SELL TAIL = 1266
  2. SELL TRADE = 1231
  3. BUY TRADE = 1189 

So if you get another chance to cover shorts at higher-lows, do that. Then sell at the top of this proactively predictable range (1231).

Squeezy The Shark is hungry.

KM

Keith R. McCullough
Chief Executive Officer

Squeezy: SP500 Levels, Refreshed - SPX