CHART OF THE DAY: Long Stocks? Which Ones? (It Matters)

Editor's Note: Below is a chart and brief excerpt from this morning's Early Look written by Hedgeye CEO Keith McCullough. Click here for more information about how you can subscribe.

What did “stocks” do?

1. Utilities (XLU) +2.3% week-over-week were the BEST sub-sector exposure to be long (+2.3% in the last 3 months)
2. REITS (MSCI Index) +1.2% week-over-week and +1.4% in the last 3 months (vs. SP500 down -4.3% in the last 3 months)
3. Industrials (XLI) deflated another -1.6% last week and have lost -4.4% in the last 3 months