Mucker’s Cheat Sheet, Refreshed

Takeaway: Be careful out there.

Editor's note: This is a recap of CEO Keith McCullough's market thoughts as shared no-holds-barred on Twitter today. To learn more about how you can subscribe to our services click here.

 

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It was a fun day for us. While I was wrong on the market call, I was really right on the stocks. I thought this market was going to crack (maybe it still will). But I do think wrong sometimes.

 

Our shorts have been working out extremely well during an up tape. Twitter (TWTR) and Whole Foods (WFM) are two examples. (Check out WFM after hours down 20%. Two of our analysts nailed this short two weeks ago on HedgeyeTV.) Speaking of short calls, our energy analyst Kevin Kaiser absolutely tagged Boardwalk Pipeline Partners (BWP) the other day. The stock is down over 40% this week. The “Hedgeye Short-Selling Machine” is grinding. Great job by all of our analysts. I am nothing without my team.

 

On a more somber note, the US Dollar continues to lose credibility. It’s actually sad to watch. You can thank the Fed for that.  

 

Mucker’s Cheat Sheet, Refreshed - wekd

 

Does anyone truly believe this whole “Down Dollar, Down Rates” thing is going to end well for America? If you do, I'm guessing you're smoking some of that funny stuff now legal in Colorado.

 

Oil inflation? It looks primed to rip the economy another new one. The Fed would do well to take a page out of the Bank of England’s playbook. Carney’s Pound continues to crush Yellen’s Dollar.

 

This time last year, I was extremely bullish on US #GrowthAccelerating because it was “Dollar Up, Rates Up.” That was unmistakably a pro-growth signal – what’s going on now is a slow-growth one.

 

Some Quick Thoughts:

  • Financials (XLF) look identical to the S&P 500 – it needs to go a lot higher to change my market view.
  • Gold ripping new highs is a very bearish growth signal.
  • Flat to down YTD for the US stock market is the new perma bull up.
  • If you're a bullish momentum monkey, just buying the market because it’s up, well I guess that's why you’re a monkey.

Look, I get the whole catalyst that allowing Janet Yellen to torch America's currency inflates stocks. Just don’t confuse that with the America that you want.

Join the Hedgeye Revolution.


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