Hedgeye CEO Keith McCullough appeared on CNBC’s The Kudlow Report last night to chime in on today's market activity and expectations for Ben Bernanke’s meeting at Jackson Hole today and throughout the weekend. To access the video, please click on the following link: http://app.hedgeye.com/unlocked_content/22879-waiting-for-bernanke-s-next-move.
The fact of the matter is that the general public is a proponent of a stronger US dollar and will continue to be bullish going forward. Mitt Romney and Paul Ryan are both advocates of a stronger US dollar; this is clearly something people can get behind.
Should Romney win the election, he’ll need to give Bernanke the boot. He’s got no growth, no employment gains and consumer confidence is down. Obama and Bernanke’s strategy is to keep the stock market up and yesterday the Dow dropped 100 points. As far as our strategy goes, we’re basically on the sidelines playing it safe until Jackson Hole is over and done with. It’s sad that we need to wait for central planners to speak before making moves, but that’s life. Deal with it.
Enjoy the long weekend with your respective families.
The Hedgeye Macro Team