Today, Hedgeye CEO Keith McCullough added PIMCO 25+ Year Zero Coupon U.S. Treasury ETF (ZROZ) to the short side of Real-Time Alerts. The reasoning also lays out why we're taking EDV off Investing Ideas:
"With the 10yr UST Yield pulling back to 2.23% today (you could have been plugged shorting the Long Bond like consensus did on the recent jobs report at 2.39%), I'm getting an immediate-term TRADE overbought signal (within a bullish intermediate-term TREND) in ZROZ.
With the Fed hell bent on raising into a slow-down, we have to risk manage the risks associated with that. They have no idea on the economy (forecasts on growth have been wrong 70% of the time since Bernanke's un-elected reign). So the risk, is their forecast."