• It's Coming...

    MARKET EDGES

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“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