In this brief excerpt from today's Macro Show, Hedgeye CEO Keith McCoullough offers his insights on how to trade based on current volatility and gives his current risk ranges for the VIX.
BREAKING: Despite all the "weather" shorts, US New Home Sales beat big in February. Real big. New home sales were up +7.8% month-over-month versus a -3.5% estimate.
More notably... sales were up a remarkable +25% year-over-year as organic strength and very easy compares continue to support improving rates of change in housing demand.
The housing bears and bond bears have been taking it on the chin the past few weeks. Housing (ITB) is up over 2% since we added it to Investing Ideas on March 4th versus 0.31% for SPY. Our Long Bond call (TLT) is up 4.25% in that time.
We are back to net long, in signal terms on that barn burner of a Housing print.
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Hedgeye CEO Keith McCullough walked through the RTA positions as of 12:15PM ET and answered subscriber questions. Here is the replay.
Takeaway: Removing LULU from Best Ideas List as a Long. Walking through our research at 11:00 am ET Today.
We're removing LULU from our Best Ideas list as a long. We're not against owning LULU, as there's still a path to $4 in EPS power. We just don't know if management knows whether or not that path exists. That didn't matter at $37. It matters at $64. We'll walk through the reasons why as well as the results of our consumer survey (5 countries/33 brands) and real estate deep-dive this morning at 11:00am ET.
Watch a replay of the presentation below.
Here is an overview of the key conclusions we will be discussing. Call details below.
Date/Time: Tuesday March 24/11:00am ET
Toll Free Number:
Conference Password: 13604247
Materials: CLICK HERE
Hedgeye CEO Keith McCullough shares the top three things in his macro notebook this morning.
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