Chart Of The Week: Shark Hunting

“This shark, swallow you whole. Little shakin', little tenderizin', an' down you go. And we gotta do it quick, that'll bring back your tourists, put all your businesses on a payin' basis. But it's not gonna be pleasant.”
-Quint (Jaws, 1975)

Suffice to say, this week wasn't one for the faint of heart. Shark hunting never is…

If you're in the "all in US$ cash" camp, that and gold worked, closing +1.5% and +1% on the week, respectively. If you were in the shark infested waters with us, it was a full contact sport.

The chart below paints the lines where we made calls this week. "Beware Of The Squeeze" (11/12) played out twice over the span of a very volatile 48 hours. From 1PM on 11/13 to the closing bell, we saw a +10.5% squeeze in the SP500, then from 1PM on 11/14 we saw a milder version of the same, but a +4.5% two hour move in the SP500 nevertheless.

We issued 12 sell/short orders on the Hedgeye Portfolio on 11/14. Our get long for the squeeze call was not one that we were going to sit on forever. Just after 3PM on Friday, we issued a note calling out stiff shark bite resistance at SP500 920.
KM



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