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CHART OF THE DAY | Stocks: Puppies & Rainbows? Or Jobs Report Bomb

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.

 

"... To put this in practical terms, let’s go through the SP500 setup one more time:

  1. It just had a text-book bounce off the low-end of my immediate-term 2167-2192 risk range
  2. It’s still signaling bullish from an intermediate-term TREND perspective (2141 support)
  3. It’s likely going to have a big move in/out of the US jobs report on Friday

If the jobs number is a bomb (Dollar Down, Rates Down), can stocks rip? Yes. If the jobs number is rainbows and puppy dogs (Dollar Up, Rates Up), can stocks get ripped? Yes. Can anything happen in between? Yes."

 

CHART OF THE DAY | Stocks: Puppies & Rainbows? Or Jobs Report Bomb - 08.30.16 EL Chart


Remember What Happened Last Time The Fed Raised Rates?

In this brief excerpt from The Macro Show, Hedgeye CEO Keith McCullough reminds investors what happened to markets when the Federal Reserve raised interest rates for the first time since 2006 this past December.


Cartoon of the Day: Dead

Cartoon of the Day: Dead  - growth skeleton cartoon 08.29.2016

 

Though largely ignored by the mainstream media last week, due to of all the hoopla surrounding the Fed's symposium in Jackson Hole, second quarter GDP was revised down to 1.1% from 1.2%, on Friday. U.S. #GrowthSlowing!


investing ideas

Risk Managed Long Term Investing for Pros

Hedgeye CEO Keith McCullough handpicks the “best of the best” long and short ideas delivered to him by our team of over 30 research analysts across myriad sectors.

10,000 Workers Suing Chipotle (The Latest Sign This Company Can't Get Out of Its Own Way)

Takeaway: This short is far from played out.

10,000 Workers Suing Chipotle (The Latest Sign This Company Can't Get Out of Its Own Way) - chipotle image

From E. Coli To Wage Theft, Bad news keeps on coming for chipotle

 

CNN just reported nearly 10,000 workers are suing Chipotle for allegedly cheating them on their pay in a class action lawsuit. 

 

"Current and former Chipotle (CMG) employees claim that the company made them work extra hours "off the clock" without paying them. It's a practice known as wage theft, and Chipotle is allegedly doing it all over the United States.

 

'Chipotle routinely requires hourly-paid restaurant employees to punch out, and then continue working until they are given permission to leave,' according to the class action lawsuit known as Turner v. Chipotle. It's named after a former Chipotle manager in Colorado, Leah Turner, who claims she had to work without pay and was told to make workers under her do the same in order to meet budget goals."

 

Hedgeye Restaurant analyst Howard Penney has been the bear on the Chipotle for some time, criticizing management for their hubris surrounding the E. coli scandal and then actually denying that any problem even exists at the company. 

 

Given this awful news today, it's clear management's issues run much deeper than we initially thought.

 

We're comfortable saying the Chipotle short call has yet to fully play out.


PREMIUM INSIGHT

What Happens To Stocks If Friday’s Jobs Report Bombs?

What Happens To Stocks If Friday’s Jobs Report Bombs? - HETV macroshow thumb Jobs Report

In this excerpt from The Macro Show earlier today, Hedgeye CEO Keith McCullough explores what could happen to the S&P 500 following Friday’s Jobs Report.


Poll of the Day: Which Is The WORST Place To Put Your Money Right Now?

Takeaway: What do you think? Cast your vote. Let us know.


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