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Takeaway: Please note we are removing Vanguard Extended Duration ETF from Investing Ideas

Editor's Note: In the first paragraph below, the original version inadvertently read that we added ZROZ to the short side of Real-Time Alerts. We apologize for the error. Rather, we closed our long position. We have no open positions in ZROZ.

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Today, Hedgeye CEO Keith McCullough advised Real-Time Alerts subscribers that they close their long position in PIMCO 25+ Year Zero Coupon U.S. Treasury ETF (ZROZ). 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."

Correction: EDV: We Are Removing Vanguard Extended Duration ETF From Investing Ideas - Fed forecast cartoon 11.13.2015