Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.
"... Here’s what really worked last week:
- Short USD = down another -1.2% on the week to -3.6% YTD
- Long Euros and Yens (vs. USD) = up +1.0% and +2.0%, respectively, to +3.8% and +7.8% YTD
- Long Commodities = +1.6% on the week for the CRB Index to 0.1% YTD
- Long Oil = +2.4% on the week for WTI to +0.8% YTD
- Long Russia = +4.7% on the week to +16.9% YTD
Seriously, who isn’t levered long Russia?"