Hedgeye CEO Keith McCullough is adding Vanguard High Dividend Yield ETF (VYM) to our high-conviction Investing Ideas list today. Below is a note he wrote this afternoon in a Real-Time Alerts update.
Did you sell some "safe yield" where we signaled to earlier this week? Good. Now you can buy some back. That's the way the process works. Sell high, buy/cover lower. We've seen plenty a one-way chart chaser lose lots of other people's money doing it otherwise.
VYM has a 3% Yield and is signaling immediate-term TRADE oversold within our bullish intermediate-term @Hedgeye TREND view.
